Quanta Services, Inc. (NYSE:PWR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 23.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 258,851 shares of the construction company’s stock after selling 79,579 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.18% of Quanta Services worth $81,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC increased its stake in shares of Quanta Services by 2.2% during the 4th 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. Certuity LLC purchased a new stake in Quanta Services in the fourth quarter valued at approximately $346,000. Leavell Investment Management Inc. increased its position in Quanta Services by 11.7% during the fourth quarter. Leavell Investment Management Inc. now owns 13,332 shares of the construction company’s stock worth $4,214,000 after purchasing an additional 1,400 shares during the last quarter. New Republic Capital LLC raised its stake in Quanta Services by 4.8% during the fourth quarter. New Republic Capital LLC now owns 746 shares of the construction company’s stock worth $236,000 after purchasing an additional 34 shares during the period. Finally, Paladin Wealth LLC boosted its holdings in shares of Quanta Services by 1.8% in the 4th quarter. Paladin Wealth LLC now owns 1,929 shares of the construction company’s stock valued at $610,000 after purchasing an additional 35 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 1.4 %

Quanta Services stock opened at $298.44 on Thursday. 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, Inc. has a one year low of $205.82 and a one year high of $365.88. The company has a 50-day simple moving average of $322.55 and a 200-day simple moving average of $303.94. The firm has a market capitalization of $44.05 billion, a P/E ratio of 55.06, a P/E/G ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of research reports. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target on the stock. Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus increased their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services 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.