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

Blue Chip Partners LLC lifted its position in Quanta Services, Inc. (NYSE:PWR) by 78.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,681 shares of the construction company’s stock after acquiring an additional 24,866 shares during the period. Quanta Services comprises approximately 1.5% of Blue Chip Partners LLC’s holdings, making the stock its 24th largest position. Blue Chip Partners LLC’s holdings in Quanta Services were worth $17,914,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Versor Investments LP acquired a new position in shares of Quanta Services in the third quarter worth $406,000. Kestra Private Wealth Services LLC increased its position in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd increased its holdings in Quanta Services by 6.5% in 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. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 2.0 %

Shares of PWR opened at $285.13 on Monday. The company has a market capitalization of $42.09 billion, a P/E ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a one year low of $206.58 and a one year high of $365.88. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PWR shares. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Stifel Nicolaus boosted their price objective on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.