Central Bank & Trust Co. Cuts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Central Bank & Trust Co. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,112 shares of the construction company’s stock after selling 234 shares during the quarter. Central Bank & Trust Co.’s holdings in Quanta Services were worth $984,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the third quarter worth about $31,000. Versant Capital Management Inc lifted its stake in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter valued at approximately $41,000. Finally, Eastern Bank purchased a new position in Quanta Services in the 3rd quarter worth approximately $44,000. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent analyst reports. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services Stock Performance

Shares of PWR opened at $337.10 on Tuesday. Quanta Services, Inc. has a 52 week low of $187.27 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 stock has a market cap of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. The business has a 50-day simple moving average of $329.50 and a two-hundred day simple moving average of $297.36.

Quanta Services (NYSE:PWR) last released 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 company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. On average, analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is presently 7.38%.

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.