Mutual of America Capital Management LLC Sells 740 Shares of Quanta Services, Inc. (NYSE:PWR)

Mutual of America Capital Management LLC reduced its position in Quanta Services, Inc. (NYSE:PWRFree Report) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,543 shares of the construction company’s stock after selling 740 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Quanta Services were worth $5,714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Osaic Holdings Inc. boosted its holdings in shares of Quanta Services by 2,026.3% in the 2nd quarter. Osaic Holdings Inc. now owns 1,344,871 shares of the construction company’s stock worth $11,136,000 after purchasing an additional 1,281,621 shares in the last quarter. Norges Bank purchased a new position in shares of Quanta Services in the 4th quarter worth about $180,853,000. Capital World Investors boosted its holdings in shares of Quanta Services by 14.8% in the 2nd quarter. Capital World Investors now owns 5,991,012 shares of the construction company’s stock worth $1,176,934,000 after purchasing an additional 771,861 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Quanta Services by 52.2% in the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock worth $196,405,000 after purchasing an additional 511,508 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Quanta Services during the 2nd quarter valued at about $92,251,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PWR shares. Stifel Nicolaus increased their target price on Quanta Services from $212.00 to $237.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. KeyCorp started coverage on Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Citigroup increased their target price on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, The Goldman Sachs Group upgraded Quanta Services from a “neutral” rating to a “buy” rating and dropped their target price for the company from $214.00 to $211.00 in a report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.80.

Get Our Latest Research Report on Quanta Services

Quanta Services Trading Up 1.1 %

PWR opened at $210.11 on Friday. The business has a 50 day simple moving average of $204.58 and a two-hundred day simple moving average of $194.21. The firm has a market capitalization of $30.53 billion, a price-to-earnings ratio of 44.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.61 and a quick ratio of 1.57. Quanta Services, Inc. has a one year low of $147.33 and a one year high of $219.17.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $0.36 annualized dividend and a dividend yield of 0.17%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.08. Quanta Services’s dividend payout ratio is currently 7.68%.

Quanta Services Profile

(Free Report)

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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