Fulton Bank N.A. Reduces Position in Quanta Services, Inc. (NYSE:PWR)

Fulton Bank N.A. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,607 shares of the construction company’s stock after selling 1,154 shares during the quarter. Fulton Bank N.A.’s holdings in Quanta Services were worth $3,984,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the third quarter worth $30,000. Versant Capital Management Inc grew its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Quanta Services in the 2nd quarter valued at $33,000. Finally, Quest Partners LLC purchased a new stake in Quanta Services in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 2.4 %

NYSE:PWR traded down $7.81 during midday trading on Wednesday, hitting $312.00. The stock had a trading volume of 508,895 shares, compared to its average volume of 801,992. The stock has a 50-day moving average of $327.84 and a 200 day moving average of $293.33. The company has a market capitalization of $46.05 billion, a price-to-earnings ratio of 57.56 and a beta of 1.06. Quanta Services, Inc. has a one year low of $187.27 and a one year 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.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion during 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%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. UBS Group upped their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday. They set a “neutral” rating for the company. Finally, Stifel Nicolaus upped their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $324.25.

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.