Axxcess Wealth Management LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 24.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of Quanta Services by 2.9% during the first quarter. Arizona State Retirement System now owns 38,520 shares of the construction company’s stock worth $5,070,000 after purchasing an additional 1,068 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in Quanta Services in the first quarter valued at $59,000. Pinnacle Associates Ltd. grew its holdings in Quanta Services by 57.1% in the first quarter. Pinnacle Associates Ltd. now owns 4,950 shares of the construction company’s stock valued at $651,000 after purchasing an additional 1,800 shares during the last quarter. Financial Architects Inc acquired a new stake in shares of Quanta Services during the first quarter valued at $301,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Quanta Services by 23.1% during the first quarter. New York State Common Retirement Fund now owns 190,563 shares of the construction company’s stock valued at $25,080,000 after acquiring an additional 35,815 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on PWR shares. StockNews.com started coverage on Quanta Services in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Robert W. Baird raised their target price on Quanta Services from $136.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Argus raised their target price on Quanta Services from $154.00 to $162.00 in a report on Friday, September 9th. UBS Group raised their price objective on Quanta Services to $170.00 in a research note on Monday. Finally, Cowen raised 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $155.33.
Quanta Services Stock Down 1.1 %
Quanta Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were paid a $0.07 dividend. 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 dividend payout ratio is presently 9.56%.
Quanta Services Company Profile
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.
- Get a free copy of the StockNews.com research report on Quanta Services (PWR)
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