Quanta Services, Inc. (NYSE:PWR) Shares Sold by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 7.0% during the fourth quarter, HoldingsChannel reports. The firm owned 80,256 shares of the construction company’s stock after selling 6,075 shares during the quarter. Quanta Services comprises approximately 5.0% of Mcrae Capital Management Inc.’s portfolio, making the stock its 3rd biggest holding. Mcrae Capital Management Inc.’s holdings in Quanta Services were worth $25,365,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after buying an additional 29 shares during the period. Commonwealth Financial Services LLC boosted its holdings in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the period. Moody Lynn & Lieberson LLC raised its holdings in Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its position in Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of analyst reports. Northland Securities reissued an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Robert W. Baird upped their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Bank of America assumed coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services Trading Down 2.5 %

Quanta Services stock opened at $290.94 on Friday. The stock has a 50-day moving average price of $322.55 and a 200 day moving average price of $303.94. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88. The stock has a market cap of $42.95 billion, a PE ratio of 53.68, a P/E/G ratio of 1.56 and a beta of 1.05. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Quanta Services 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.