Chevy Chase Trust Holdings LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Chevy Chase Trust Holdings LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 77,747 shares of the construction company’s stock after selling 1,533 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Quanta Services worth $24,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the third quarter valued at about $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the third quarter valued at about $30,000. Sound Income Strategies LLC lifted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 2.0 %

Shares of NYSE PWR opened at $285.13 on Friday. 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 current ratio of 1.23 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $320.72 and its two-hundred day simple moving average is $304.05. The stock has a market capitalization of $42.09 billion, a P/E ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. BMO Capital Markets initiated coverage on Quanta Services in a research report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $330.50.

About Quanta Services

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.