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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,514 shares of the construction company's stock after selling 2,350 shares during the quarter. Quanta Services comprises approximately 0.8% of Intrust Bank NA's investment portfolio, making the stock its 24th biggest position. Intrust Bank NA's holdings in Quanta Services were worth $7,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC boosted its position in shares of Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after acquiring an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Quanta Services by 2.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after purchasing an additional 37 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake 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 buying an additional 38 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group grew its stake in Quanta Services by 3.0% during the first quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock worth $345,000 after buying an additional 39 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in Quanta Services by 16.7% during the first quarter. HHM Wealth Advisors LLC now owns 280 shares of the construction company's stock worth $71,000 after buying an additional 40 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 0.3%

Shares of Quanta Services stock traded down $1.30 on Friday, reaching $386.05. 655,319 shares of the company's stock were exchanged, compared to its average volume of 1,261,717. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The firm's 50-day moving average is $380.24 and its two-hundred day moving average is $320.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market capitalization of $57.53 billion, a P/E ratio of 59.76, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same period last year, the business earned $1.90 EPS. Quanta Services's quarterly revenue was up 21.1% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

PWR has been the topic of a number of analyst reports. Roth Capital reiterated a "buy" rating and set a $450.00 price objective (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Piper Sandler reiterated an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. UBS Group increased their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. Twelve investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $392.45.

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.