Legacy CG LLC Has $4.21 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Legacy CG LLC lessened its position in Quanta Services, Inc. (NYSE:PWR) by 5.1% in the fourth quarter, HoldingsChannel reports. The fund owned 13,325 shares of the construction company’s stock after selling 711 shares during the quarter. Legacy CG LLC’s holdings in Quanta Services were worth $4,211,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Quanta Services by 20.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,859 shares of the construction company’s stock valued at $8,308,000 after acquiring an additional 4,390 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Quanta Services during the fourth quarter worth $2,032,000. Stratos Wealth Partners LTD. grew its stake in shares of Quanta Services by 1.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 28,190 shares of the construction company’s stock worth $8,910,000 after acquiring an additional 470 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Quanta Services by 9.8% during the fourth quarter. Yousif Capital Management LLC now owns 20,838 shares of the construction company’s stock valued at $6,586,000 after purchasing an additional 1,854 shares in the last quarter. Finally, E. Ohman J or Asset Management AB grew its position in Quanta Services by 18.1% in the 4th quarter. E. Ohman J or Asset Management AB now owns 6,530 shares of the construction company’s stock worth $2,064,000 after purchasing an additional 1,000 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.5 %

Shares of NYSE PWR opened at $298.50 on Thursday. Quanta Services, Inc. has a one year low of $200.23 and a one year high of $365.88. The stock has a market capitalization of $44.06 billion, a P/E ratio of 55.07, a PEG ratio of 1.54 and a beta of 1.05. The firm’s 50 day simple moving average is $325.93 and its two-hundred day simple moving average is $302.22. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend 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 7.38%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PWR shares. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird raised their price objective 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. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Company 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.