Kentucky Retirement Systems Insurance Trust Fund Has $2.42 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Kentucky Retirement Systems Insurance Trust Fund grew its position in Quanta Services, Inc. (NYSE:PWR) by 75.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,644 shares of the construction company’s stock after acquiring an additional 3,282 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Quanta Services were worth $2,416,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Truist Financial Corp raised its stake in shares of Quanta Services by 3.9% in the fourth quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock valued at $151,659,000 after acquiring an additional 18,206 shares during the last quarter. Blue Chip Partners LLC raised its position in Quanta Services by 78.2% in the 4th quarter. Blue Chip Partners LLC now owns 56,681 shares of the construction company’s stock worth $17,914,000 after purchasing an additional 24,866 shares during the last quarter. CIBC Asset Management Inc raised its position in Quanta Services by 4.6% in the 4th quarter. CIBC Asset Management Inc now owns 22,404 shares of the construction company’s stock worth $7,081,000 after purchasing an additional 992 shares during the last quarter. Highview Capital Management LLC DE raised its position in Quanta Services by 10.0% in the 4th quarter. Highview Capital Management LLC DE now owns 5,738 shares of the construction company’s stock worth $1,813,000 after purchasing an additional 520 shares during the last quarter. Finally, Sierra Ocean LLC bought a new position in Quanta Services in the 4th quarter worth approximately $27,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 2.0 %

Shares of PWR opened at $285.13 on Tuesday. The company has a market capitalization of $42.09 billion, a PE ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 12 month low of $206.58 and a 12 month high of $365.88. The stock’s 50-day moving average price is $319.99 and its two-hundred day moving average price is $304.91. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is presently 7.38%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial dropped 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. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. 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 report on Wednesday, January 22nd. Finally, Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.50.

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.