CENTRAL TRUST Co Sells 746 Shares of Quanta Services, Inc. (NYSE:PWR)

CENTRAL TRUST Co reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 45.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 912 shares of the construction company's stock after selling 746 shares during the quarter. CENTRAL TRUST Co's holdings in Quanta Services were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $544,937,000. Capital World Investors grew its holdings 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 worth $2,282,978,000 after acquiring an additional 891,977 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after purchasing an additional 811,797 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Quanta Services during the fourth quarter worth $203,068,000. Finally, Bank of America Corp DE raised its holdings in 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. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent research reports. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. B. Riley raised their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $349.65.

Quanta Services Stock Up 0.0%

PWR stock traded up $0.08 during trading hours on Friday, reaching $360.51. 1,563,360 shares of the stock were exchanged, compared to its average volume of 1,489,716. The firm's 50-day moving average is $324.49 and its 200-day moving average is $305.40. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $367.00. The company has a market cap of $53.45 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 2.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

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.