Quanta Services, Inc. (NYSE:PWR) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWRGet Rating) by 24.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,081 shares of the construction company’s stock after selling 1,005 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Quanta Services were worth $386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Atwood & Palmer Inc. boosted its holdings in Quanta Services by 116.0% in the second quarter. Atwood & Palmer Inc. now owns 270 shares of the construction company’s stock valued at $34,000 after purchasing an additional 145 shares in the last quarter. Hallmark Capital Management Inc. acquired a new position in Quanta Services in the second quarter valued at approximately $35,000. Clear Street Markets LLC boosted its holdings in Quanta Services by 417.2% in the second quarter. Clear Street Markets LLC now owns 300 shares of the construction company’s stock valued at $38,000 after purchasing an additional 242 shares in the last quarter. CX Institutional acquired a new position in Quanta Services in the second quarter valued at approximately $39,000. Finally, Trustcore Financial Services LLC boosted its holdings in Quanta Services by 32.8% in the first quarter. Trustcore Financial Services LLC now owns 364 shares of the construction company’s stock valued at $48,000 after purchasing an additional 90 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 1.1 %

PWR opened at $146.20 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.60 and a debt-to-equity ratio of 0.75. The firm has a market cap of $20.89 billion, a P/E ratio of 49.90 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $93.91 and a 52 week high of $151.77. The business’s fifty day simple moving average is $137.44 and its 200 day simple moving average is $132.68.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, October 3rd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Friday, September 30th. Quanta Services’s payout ratio is currently 9.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PWR shares. KeyCorp upped their price target on Quanta Services from $156.00 to $174.00 in a report on Tuesday, November 8th. Credit Suisse Group boosted their price objective on Quanta Services from $168.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. StockNews.com began coverage on Quanta Services in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Cowen boosted their price objective on Quanta Services from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. Finally, DA Davidson boosted their price objective on Quanta Services to $125.00 in a research note on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.33.

Quanta Services Company Profile

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Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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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