Amalgamated Bank decreased its holdings in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,676 shares of the construction company’s stock after selling 2,404 shares during the period. Amalgamated Bank’s holdings in Quanta Services were worth $6,143,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Quanta Services in the first quarter worth $34,000. Allworth Financial LP raised its stake in Quanta Services by 1,656.3% in the first quarter. Allworth Financial LP now owns 281 shares of the construction company’s stock valued at $37,000 after buying an additional 265 shares in the last quarter. Cyrus J. Lawrence LLC acquired a new position in shares of Quanta Services during the 1st quarter worth about $38,000. Trustcore Financial Services LLC increased its holdings in shares of Quanta Services by 32.8% in the 1st quarter. Trustcore Financial Services LLC now owns 364 shares of the construction company’s stock valued at $48,000 after acquiring an additional 90 shares during the last quarter. Finally, HM Payson & Co. raised its position in shares of Quanta Services by 189.1% during the 1st quarter. HM Payson & Co. now owns 370 shares of the construction company’s stock worth $49,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.
Quanta Services Trading Down 1.1 %
NYSE:PWR opened at $137.42 on Monday. The firm has a market cap of $19.65 billion, a P/E ratio of 44.62 and a beta of 1.08. The company has a current ratio of 1.56, a quick ratio of 1.53 and a debt-to-equity ratio of 0.75. The stock’s 50 day simple moving average is $138.61 and its 200-day simple moving average is $128.97. Quanta Services, Inc. has a 12-month low of $93.91 and a 12-month high of $149.33.
Quanta Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.20%. Quanta Services’s dividend payout ratio (DPR) is presently 9.09%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on PWR. Citigroup raised their target price on Quanta Services from $145.00 to $152.00 in a research report on Friday, July 22nd. Argus raised their target price on Quanta Services from $154.00 to $162.00 in a research report on Friday, September 9th. Cowen raised their target price on Quanta Services from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. The Goldman Sachs Group lowered Quanta Services from a “buy” rating to a “neutral” rating and set a $150.00 target price on the stock. in a research report on Thursday. Finally, Cowen raised their target price on Quanta Services from $145.00 to $155.00 in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $151.17.
Insider Activity at Quanta Services
In related news, Director Vincent D. Foster sold 14,948 shares of Quanta Services stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $119.01, for a total value of $1,778,961.48. Following the sale, the director now directly owns 204,925 shares in the company, valued at $24,388,124.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.
About Quanta Services
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.
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