Empirical Finance LLC Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

Empirical Finance LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,880 shares of the construction company’s stock after selling 46 shares during the period. Empirical Finance LLC’s holdings in Quanta Services were worth $1,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versor Investments LP acquired a new stake in Quanta Services in the 3rd quarter valued at about $406,000. Principal Financial Group Inc. grew its position in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp lifted its position in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares in the last quarter. Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after buying an additional 2,557 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Quanta Services in the 3rd quarter valued at $1,193,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR opened at $312.44 on Monday. The company has a market cap of $46.12 billion, a P/E ratio of 57.65, a PEG ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a fifty-two week low of $205.82 and a fifty-two week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average price is $324.63 and its 200 day moving average price is $303.22.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. 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 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PWR shares. Robert W. Baird boosted 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. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Northland Securities reiterated an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.