UMB Bank n.a. Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

UMB Bank n.a. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,107 shares of the construction company’s stock after selling 1,045 shares during the quarter. UMB Bank n.a.’s holdings in Quanta Services were worth $15,520,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. HB Wealth Management LLC lifted its position in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after acquiring an additional 31 shares in the last quarter. Cascade Investment Group Inc. lifted its position in shares of Quanta Services by 1.2% in the fourth quarter. Cascade Investment Group Inc. now owns 2,687 shares of the construction company’s stock valued at $849,000 after acquiring an additional 32 shares in the last quarter. Resurgent Financial Advisors LLC lifted its position in shares of Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. Tower Wealth Partners Inc. lifted its position in Quanta Services by 3.1% during the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after buying an additional 34 shares in the last quarter. Finally, Huntington National Bank lifted its position in Quanta Services by 2.9% during the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock worth $370,000 after buying an additional 35 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Guggenheim assumed coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services Trading Up 0.3 %

Shares of NYSE PWR opened at $337.10 on Monday. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $329.35 and a 200-day simple moving average of $296.78. The stock has a market capitalization of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. On average, equities analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. 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. Quanta Services’s payout ratio is presently 7.38%.

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.