Private Trust Co. NA Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Private Trust Co. NA lowered its position in Quanta Services, Inc. (NYSE:PWR) by 11.2% during the third quarter, Holdings Channel reports. The institutional investor owned 785 shares of the construction company’s stock after selling 99 shares during the quarter. Private Trust Co. NA’s holdings in Quanta Services were worth $234,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Versor Investments LP acquired a new position in shares of Quanta Services during the third quarter worth $406,000. Wealth Enhancement Advisory Services LLC increased its position in Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares in the last quarter. Cetera Investment Advisers raised its stake in Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after buying an additional 21,003 shares during the last quarter. Czech National Bank boosted its holdings in Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after acquiring an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Quanta Services by 892.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after acquiring an additional 910 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Trading Down 0.8 %

PWR stock opened at $343.94 on Friday. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $50.77 billion, a P/E ratio of 63.46 and a beta of 1.01. The company’s 50-day simple moving average is $313.56 and its 200-day simple moving average is $281.85.

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

Quanta Services Increases Dividend

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

About Quanta Services

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.