Wedmont Private Capital Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

Wedmont Private Capital cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,490 shares of the construction company’s stock after selling 184 shares during the quarter. Wedmont Private Capital’s holdings in Quanta Services were worth $1,207,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter valued at approximately $25,000. Private Ocean LLC purchased a new stake in shares of Quanta Services in the first quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. acquired a new position in Quanta Services during the first quarter worth $26,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Quanta Services during the fourth quarter worth $34,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PWR. The Goldman Sachs Group lifted their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Northland Securities lifted their price objective on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. DA Davidson boosted their price target on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, Citigroup boosted their price target on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $287.09.

Quanta Services Stock Up 0.7 %

PWR traded up $1.84 on Tuesday, reaching $261.88. The company’s stock had a trading volume of 427,105 shares, compared to its average volume of 961,321. The stock has a market cap of $38.34 billion, a price-to-earnings ratio of 49.87 and a beta of 1.03. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business’s 50 day moving average is $261.85 and its 200 day moving average is $251.53.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 earnings per share. As a group, research analysts forecast that Quanta Services, Inc. will post 7.71 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Quanta Services 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.