Intrust Bank NA Trims Stock Position in Quanta Services, Inc. (NYSE:PWR)

Intrust Bank NA trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,864 shares of the construction company’s stock after selling 917 shares during the period. Quanta Services makes up 1.1% of Intrust Bank NA’s investment portfolio, making the stock its 19th largest holding. Intrust Bank NA’s holdings in Quanta Services were worth $10,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of PWR. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new position in Quanta Services during the 4th quarter worth $27,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the third quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the third quarter valued at about $31,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the subject of several analyst reports. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Stifel Nicolaus dropped their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Price Performance

Shares of NYSE PWR opened at $254.17 on Friday. The company’s 50-day moving average price is $283.07 and its 200 day moving average price is $304.37. The stock has a market cap of $37.67 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

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.