Great Lakes Retirement Inc. Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Great Lakes Retirement Inc. reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 0.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,611 shares of the construction company’s stock after selling 46 shares during the period. Great Lakes Retirement Inc.’s holdings in Quanta Services were worth $4,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Quanta Services by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the construction company’s stock worth $238,000 after purchasing an additional 600 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Quanta Services in the 3rd quarter worth approximately $95,000. ORG Partners LLC increased its holdings in shares of Quanta Services by 129.1% in the 3rd quarter. ORG Partners LLC now owns 804 shares of the construction company’s stock worth $240,000 after buying an additional 453 shares during the last quarter. CX Institutional purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $208,000. Finally, Creative Planning lifted its holdings in shares of Quanta Services by 7.5% during the 3rd quarter. Creative Planning now owns 22,262 shares of the construction company’s stock worth $6,637,000 after acquiring an additional 1,562 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR stock opened at $302.45 on Wednesday. Quanta Services, Inc. has a 1 year low of $205.82 and a 1 year high of $365.88. The firm has a 50-day moving average of $323.25 and a 200 day moving average of $303.98. 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 company has a market cap of $44.64 billion, a P/E ratio of 55.80, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio is 7.38%.

Analyst Ratings Changes

PWR has been the topic of a number of research reports. Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Four equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.