Vontobel Holding Ltd. Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Vontobel Holding Ltd. cut its stake in Quanta Services, Inc. (NYSE:PWR) by 16.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 294,104 shares of the construction company’s stock after selling 56,809 shares during the quarter. Vontobel Holding Ltd. owned about 0.20% of Quanta Services worth $92,952,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. increased its position in Quanta Services by 4.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 80,451 shares of the construction company’s stock worth $25,997,000 after purchasing an additional 3,595 shares during the last quarter. Avestar Capital LLC increased its holdings in shares of Quanta Services by 8.0% during the 4th quarter. Avestar Capital LLC now owns 2,934 shares of the construction company’s stock worth $927,000 after buying an additional 218 shares during the last quarter. One Plus One Wealth Management LLC raised its position in shares of Quanta Services by 16.4% during the 4th quarter. One Plus One Wealth Management LLC now owns 1,386 shares of the construction company’s stock valued at $438,000 after buying an additional 195 shares during the period. Gladstone Institutional Advisory LLC lifted its holdings in Quanta Services by 2.2% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,143 shares of the construction company’s stock valued at $2,574,000 after acquiring an additional 178 shares during the last quarter. Finally, Certuity LLC purchased a new position in Quanta Services in the fourth quarter worth approximately $346,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Robert W. Baird increased their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $290.94 on Friday. The business has a 50-day simple moving average of $322.55 and a 200-day simple moving average of $303.94. The company has a market cap of $42.95 billion, a PE ratio of 53.68, a P/E/G ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a one year low of $206.58 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.