Trust Point Inc. Buys 436 Shares of Quanta Services, Inc. (NYSE:PWR)

Trust Point Inc. grew its stake in Quanta Services, Inc. (NYSE:PWR) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,684 shares of the construction company’s stock after buying an additional 436 shares during the period. Quanta Services makes up approximately 3.6% of Trust Point Inc.’s holdings, making the stock its 5th biggest position. Trust Point Inc.’s holdings in Quanta Services were worth $52,048,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PWR. Webster Bank N. A. grew its position in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the 3rd quarter valued at about $31,000. Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $301.97 on Tuesday. The firm’s fifty day moving average price is $327.77 and its two-hundred day moving average price is $301.96. The stock has a market cap of $44.57 billion, a PE ratio of 55.71, a PEG ratio of 1.54 and a beta of 1.05. Quanta Services, Inc. has a fifty-two week low of $200.23 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors 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. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. Quanta Services’s payout ratio is currently 7.38%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PWR. Citigroup cut their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. UBS Group raised their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Quanta Services presently 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.