Blue Chip Partners LLC Has $17.91 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Blue Chip Partners LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 78.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 56,681 shares of the construction company’s stock after purchasing an additional 24,866 shares during the period. Quanta Services makes up 1.5% of Blue Chip Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Blue Chip Partners LLC’s holdings in Quanta Services were worth $17,914,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Alkeon Capital Management LLC grew its holdings in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Quanta Services in the fourth quarter valued at $46,364,000. International Assets Investment Management LLC increased its stake in shares of Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. acquired a new position in Quanta Services during the third quarter worth approximately $27,430,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $285.13 on Monday. The stock has a market capitalization of $42.09 billion, a PE ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05. The business’s 50 day simple moving average is $320.72 and its 200 day simple moving average is $304.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $206.58 and a one year high of $365.88.

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 dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group lifted their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, BMO Capital Markets assumed coverage on Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective for the company. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.