Intrust Bank NA Sells 2,350 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Intrust Bank NA reduced its stake in Quanta Services, Inc. by 7.2% during the first quarter, now owning 30,514 shares valued at approximately $7.76 million.
• Quanta Services reported a 21.1% increase in revenue year-over-year, earning $2.48 EPS in its latest quarterly earnings, surpassing analysts' expectations.
• Industry analysts maintain a consensus rating of "Moderate Buy" on Quanta Services, with price targets ranging from $355.00 to $492.00 depending on the analyst.

Intrust Bank NA trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,514 shares of the construction company's stock after selling 2,350 shares during the period. Quanta Services comprises about 0.8% of Intrust Bank NA's holdings, making the stock its 24th biggest position. Intrust Bank NA's holdings in Quanta Services were worth $7,756,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Renasant Bank boosted its position in Quanta Services by 13.6% during the first quarter. Renasant Bank now owns 2,634 shares of the construction company's stock worth $670,000 after purchasing an additional 315 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in Quanta Services during the first quarter worth $5,709,000. Reaves W H & Co. Inc. boosted its position in Quanta Services by 9.8% during the first quarter. Reaves W H & Co. Inc. now owns 281,585 shares of the construction company's stock worth $71,573,000 after purchasing an additional 25,107 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in Quanta Services by 15.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock worth $72,000 after purchasing an additional 38 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its position in shares of Quanta Services by 3.3% during the 1st quarter. Cary Street Partners Financial LLC now owns 34,280 shares of the construction company's stock worth $8,713,000 after purchasing an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Roth Capital restated a "buy" rating and set a $450.00 price objective (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. UBS Group lifted their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Citigroup lifted their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Argus set a $375.00 price objective on Quanta Services in a research report on Monday, May 5th. Finally, BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Trading Down 0.3%

Quanta Services stock traded down $1.30 during midday trading on Friday, reaching $386.05. The stock had a trading volume of 655,319 shares, compared to its average volume of 1,261,717. The firm's fifty day simple moving average is $380.24 and its two-hundred day simple moving average is $320.44. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm has a market cap of $57.53 billion, a price-to-earnings ratio of 59.76, a PEG ratio of 2.30 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the business posted $1.90 EPS. The company's revenue was up 21.1% on a year-over-year basis. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is 6.19%.

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.