Fulton Bank N.A. Sells 986 Shares of Quanta Services, Inc. (NYSE:PWR)

Fulton Bank N.A. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,621 shares of the construction company's stock after selling 986 shares during the period. Fulton Bank N.A.'s holdings in Quanta Services were worth $2,954,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Commonwealth Financial Services LLC boosted its stake in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after purchasing an additional 29 shares in the last quarter. Larson Financial Group LLC lifted its position in Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after acquiring an additional 33 shares during the period. New Republic Capital LLC lifted its position in Quanta Services by 4.8% during the 4th quarter. New Republic Capital LLC now owns 746 shares of the construction company's stock valued at $236,000 after acquiring an additional 34 shares during the period. TBH Global Asset Management LLC lifted its position in Quanta Services by 0.7% during the 4th quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company's stock valued at $1,566,000 after acquiring an additional 34 shares during the period. Finally, Rothschild Investment LLC lifted its position in Quanta Services by 7.9% during the 4th quarter. Rothschild Investment LLC now owns 463 shares of the construction company's stock valued at $146,000 after acquiring an additional 34 shares during the period. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PWR shares. DA Davidson lifted their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. B. Riley lifted their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 target price (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Citigroup decreased their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $347.35.

Quanta Services Stock Performance

PWR stock traded up $2.89 during midday trading on Wednesday, reaching $359.38. 1,105,806 shares of the company's stock traded hands, compared to its average volume of 1,544,642. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The stock has a market cap of $53.28 billion, a P/E ratio of 59.60, a PEG ratio of 1.41 and a beta of 1.02. 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's 50-day moving average is $299.73 and its 200 day moving average is $303.63.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company's revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS 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 $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's payout ratio 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.