Bailard Inc. reduced its holdings in Quanta Services Inc (NYSE:PWR) by 19.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,669 shares of the construction company’s stock after selling 10,649 shares during the period. Bailard Inc.’s holdings in Quanta Services were worth $1,345,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Private Capital Group LLC raised its holdings in Quanta Services by 79.6% in the fourth quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock worth $51,000 after purchasing an additional 749 shares during the period. Federated Investors Inc. PA raised its holdings in Quanta Services by 83.9% in the third quarter. Federated Investors Inc. PA now owns 3,203 shares of the construction company’s stock worth $107,000 after purchasing an additional 1,461 shares during the period. CKW Financial Group acquired a new stake in Quanta Services in the third quarter worth $142,000. Rampart Investment Management Company LLC raised its holdings in Quanta Services by 217.6% in the third quarter. Rampart Investment Management Company LLC now owns 4,990 shares of the construction company’s stock worth $167,000 after purchasing an additional 3,419 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Quanta Services by 87.4% in the third quarter. Captrust Financial Advisors now owns 5,719 shares of the construction company’s stock worth $191,000 after purchasing an additional 2,667 shares during the period. Institutional investors and hedge funds own 86.36% of the company’s stock.
In related news, CFO Derrick A. Jensen acquired 8,560 shares of the company’s stock in a transaction that occurred on Wednesday, December 19th. The shares were acquired at an average cost of $29.11 per share, for a total transaction of $249,181.60. Following the completion of the acquisition, the chief financial officer now directly owns 250,603 shares in the company, valued at approximately $7,295,053.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincent D. Foster acquired 9,000 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The shares were bought at an average price of $29.99 per share, for a total transaction of $269,910.00. Following the completion of the acquisition, the director now owns 243,858 shares of the company’s stock, valued at $7,313,301.42. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 52,060 shares of company stock worth $1,538,702. 0.74% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 16th. Investors of record on Wednesday, January 2nd were issued a dividend of $0.04 per share. The ex-dividend date was Monday, December 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. Quanta Services’s payout ratio is 8.99%.
Several equities research analysts have weighed in on PWR shares. ValuEngine lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Citigroup cut their target price on shares of Quanta Services from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, October 23rd. Finally, Robert W. Baird cut their target price on shares of Quanta Services from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $44.25.
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Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
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