M&T Bank Corp Sells 1,296 Shares of Quanta Services, Inc. (NYSE:PWR)

M&T Bank Corp trimmed its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,194 shares of the construction company's stock after selling 1,296 shares during the quarter. M&T Bank Corp's holdings in Quanta Services were worth $3,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its stake in Quanta Services by 3.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 29,093 shares of the construction company's stock valued at $7,395,000 after purchasing an additional 903 shares in the last quarter. Highview Capital Management LLC DE lifted its holdings in Quanta Services by 4.6% during the first quarter. Highview Capital Management LLC DE now owns 6,004 shares of the construction company's stock valued at $1,526,000 after purchasing an additional 266 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in Quanta Services by 26.2% during the first quarter. Alpha Cubed Investments LLC now owns 237,680 shares of the construction company's stock valued at $60,413,000 after purchasing an additional 49,347 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Quanta Services by 4.3% during the first quarter. Crossmark Global Holdings Inc. now owns 7,657 shares of the construction company's stock valued at $1,946,000 after purchasing an additional 313 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in Quanta Services by 19.8% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 4,767 shares of the construction company's stock valued at $1,212,000 after purchasing an additional 787 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Truist Financial lowered their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $363.00 to $411.00 and gave the stock a "buy" rating in a report on Friday. Evercore ISI boosted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Finally, Citigroup decreased their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Nine 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $353.35.

Quanta Services Trading Up 0.9%

Shares of PWR stock traded up $3.54 during trading hours on Friday, reaching $383.63. 906,737 shares of the stock were exchanged, compared to its average volume of 1,060,505. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $388.00. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The company's 50-day moving average price is $355.23 and its 200-day moving average price is $310.51. The firm has a market capitalization of $56.88 billion, a price-to-earnings ratio of 61.88, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the business posted $1.41 EPS. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued 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 yield of 0.10%. Quanta Services's payout ratio is 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.