Quanta Services, Inc. (NYSE:PWR) Holdings Lowered by Fulton Bank N.A.

Fulton Bank N.A. reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,607 shares of the construction company’s stock after selling 1,154 shares during the period. Fulton Bank N.A.’s holdings in Quanta Services were worth $3,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter valued at approximately $31,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services in the second quarter worth about $33,000. Quest Partners LLC bought a new stake in Quanta Services during the 2nd quarter worth about $35,000. Finally, Versant Capital Management Inc raised its position in shares of Quanta Services by 62.5% during the 4th 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 during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 2.4 %

Shares of Quanta Services stock traded down $7.81 during trading on Wednesday, reaching $312.00. 508,895 shares of the company traded hands, compared to its average volume of 801,992. The company has a 50 day moving average price of $327.84 and a 200-day moving average price of $293.33. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The firm has a market capitalization of $46.05 billion, a PE ratio of 57.56 and a beta of 1.06. 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 (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during 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 business’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on PWR shares. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Citigroup lifted their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Daiwa Capital Markets started coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.