Meeder Asset Management Inc. cut its holdings in shares of Quanta Services Inc (NYSE:PWR) by 48.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,647 shares of the construction company’s stock after selling 36,538 shares during the quarter. Meeder Asset Management Inc.’s holdings in Quanta Services were worth $1,163,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Federated Investors Inc. PA increased its position in shares of Quanta Services by 83.9% during the third quarter. Federated Investors Inc. PA now owns 3,203 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,461 shares during the period. CKW Financial Group bought a new stake in shares of Quanta Services during the third quarter valued at approximately $142,000. Rampart Investment Management Company LLC increased its position in shares of Quanta Services by 217.6% during the third quarter. Rampart Investment Management Company LLC now owns 4,990 shares of the construction company’s stock valued at $167,000 after purchasing an additional 3,419 shares during the period. Captrust Financial Advisors increased its position in shares of Quanta Services by 87.4% during the third quarter. Captrust Financial Advisors now owns 5,719 shares of the construction company’s stock valued at $191,000 after purchasing an additional 2,667 shares during the period. Finally, Exane Asset Management bought a new stake in shares of Quanta Services during the third quarter valued at approximately $202,000. Institutional investors own 86.18% of the company’s stock.
NYSE:PWR traded up $0.01 during trading hours on Friday, reaching $34.31. The company had a trading volume of 1,119,994 shares, compared to its average volume of 1,465,601. Quanta Services Inc has a one year low of $27.90 and a one year high of $37.44. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.81.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 16th. Shareholders of record on Wednesday, January 2nd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, December 31st. Quanta Services’s dividend payout ratio (DPR) is 8.99%.
A number of research firms have recently issued reports on PWR. ValuEngine upgraded Quanta Services from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Robert W. Baird lowered their price objective on Quanta Services from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Citigroup lowered their price objective on Quanta Services from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Quanta Services currently has an average rating of “Buy” and an average target price of $44.25.
In other Quanta Services news, Director Vincent D. Foster bought 9,000 shares of the firm’s stock in a transaction dated Friday, December 28th. The shares were bought at an average price of $29.99 per share, for a total transaction of $269,910.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derrick A. Jensen bought 8,560 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The shares were acquired at an average price of $29.11 per share, for a total transaction of $249,181.60. Following the acquisition, the chief financial officer now directly owns 250,603 shares of the company’s stock, valued at approximately $7,295,053.33. The disclosure for this purchase can be found here. Insiders acquired 52,060 shares of company stock worth $1,538,702 over the last quarter. Company insiders own 0.74% of the company’s stock.
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Quanta Services Profile
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
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