abrdn plc Reduces Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

abrdn plc lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,409 shares of the construction company’s stock after selling 8,394 shares during the period. abrdn plc owned approximately 0.05% of Quanta Services worth $25,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PWR. Webster Bank N. A. boosted its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 4.0 %

Shares of Quanta Services stock opened at $310.81 on Friday. Quanta Services, Inc. has a 1-year low of $205.82 and a 1-year high of $365.88. 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 stock has a market cap of $45.88 billion, a P/E ratio of 57.35, a P/E/G ratio of 1.54 and a beta of 1.05. The stock’s 50 day simple moving average is $325.27 and its 200-day simple moving average is $302.28.

Quanta Services Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PWR shares. TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. BMO Capital Markets initiated coverage on Quanta Services in a report on Monday. They issued an “outperform” rating and a $338.00 price objective on the stock. UBS Group upped 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. Finally, Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average 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.