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

Central Bank & Trust Co. increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 79.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,572 shares of the construction company's stock after acquiring an additional 2,460 shares during the quarter. Central Bank & Trust Co.'s holdings in Quanta Services were worth $1,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Norges Bank bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $544,937,000. Capital World Investors boosted its position in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the period. Raymond James Financial Inc. bought a new position in shares of Quanta Services in the 4th quarter worth $203,068,000. Finally, Bank of America Corp DE lifted its stake in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $2.29 during trading on Monday, reaching $359.06. 229,055 shares of the company traded hands, compared to its average volume of 1,518,133. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month 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. The stock has a market cap of $53.24 billion, a P/E ratio of 59.55, a PEG ratio of 1.41 and a beta of 1.07. The firm's fifty day simple moving average is $306.00 and its 200 day simple moving average is $303.99.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same period in the previous year, the firm earned $1.41 EPS. The business's quarterly revenue was up 23.9% on a year-over-year basis. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Argus set a $375.00 price objective on shares of Quanta Services in a research note on Monday, May 5th. DA Davidson raised their target price on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $347.35.

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.