Private Trust Co. NA Sells 99 Shares of Quanta Services, Inc. (NYSE:PWR)

Private Trust Co. NA lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 785 shares of the construction company’s stock after selling 99 shares during the period. Private Trust Co. NA’s holdings in Quanta Services were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in shares of Quanta Services by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock valued at $5,469,000 after purchasing an additional 201 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Quanta Services by 23.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,344 shares of the construction company’s stock worth $1,388,000 after buying an additional 1,027 shares in the last quarter. Tidal Investments LLC boosted its stake in Quanta Services by 20.4% during the first quarter. Tidal Investments LLC now owns 12,072 shares of the construction company’s stock valued at $3,136,000 after buying an additional 2,044 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in Quanta Services by 37.9% during the 1st quarter. iA Global Asset Management Inc. now owns 2,165 shares of the construction company’s stock valued at $562,000 after buying an additional 595 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Quanta Services by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 0.8 %

PWR stock opened at $343.94 on Friday. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $350.19. The firm’s 50-day moving average is $313.56 and its 200 day moving average is $281.85. The company has a market capitalization of $50.77 billion, a PE ratio of 63.46 and a beta of 1.01. 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 (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $2.08 earnings per share. On average, research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 6.64%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PWR. Stifel Nicolaus raised their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.