Central Bank & Trust Co. Lowers Stake in Quanta Services, Inc. (NYSE:PWR)

Central Bank & Trust Co. cut its stake in Quanta Services, Inc. (NYSE:PWR) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,112 shares of the construction company’s stock after selling 234 shares during the period. Central Bank & Trust Co.’s holdings in Quanta Services were worth $984,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Quanta Services by 44.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 545 shares of the construction company’s stock worth $172,000 after purchasing an additional 169 shares in the last quarter. Bremer Bank National Association boosted its stake in Quanta Services by 0.7% in the fourth quarter. Bremer Bank National Association now owns 19,205 shares of the construction company’s stock worth $6,070,000 after buying an additional 127 shares in the last quarter. Strong Tower Advisory Services grew its position in Quanta Services by 0.5% during the fourth quarter. Strong Tower Advisory Services now owns 21,019 shares of the construction company’s stock valued at $6,643,000 after acquiring an additional 99 shares during the last quarter. Sarasin & Partners LLP raised its stake in shares of Quanta Services by 26.6% during the fourth quarter. Sarasin & Partners LLP now owns 21,318 shares of the construction company’s stock worth $6,738,000 after acquiring an additional 4,482 shares in the last quarter. Finally, Trueblood Wealth Management LLC lifted its holdings in shares of Quanta Services by 3.9% in the 4th quarter. Trueblood Wealth Management LLC now owns 1,690 shares of the construction company’s stock worth $534,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four investment 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. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services Price Performance

Shares of NYSE PWR opened at $337.10 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The company’s 50-day moving average is $329.50 and its 200 day moving average is $297.36. The stock has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the company earned $2.08 EPS. The business’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was 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 0.12%. Quanta Services’s dividend payout ratio is currently 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.