Blue Trust Inc. Sells 135 Shares of Quanta Services, Inc. (NYSE:PWR)

Blue Trust Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 10.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,100 shares of the construction company’s stock after selling 135 shares during the period. Blue Trust Inc.’s holdings in Quanta Services were worth $348,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Webster Bank N. A. boosted its stake in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the 3rd quarter worth approximately $30,000. Sound Income Strategies LLC increased its position in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.4 %

NYSE:PWR opened at $286.71 on Wednesday. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88. The firm has a 50-day moving average price of $319.99 and a two-hundred day moving average price of $304.91. The firm has a market cap of $42.32 billion, a price-to-earnings ratio of 52.90, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. 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. Quanta Services’s dividend payout ratio is 7.38%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PWR. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. Citigroup reduced their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Northland Securities reissued an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.