Quanta Services, Inc. (NYSE:PWR) Shares Sold by Trust Point Inc.

Trust Point Inc. lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 57.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,547 shares of the construction company's stock after selling 94,137 shares during the quarter. Quanta Services makes up about 1.6% of Trust Point Inc.'s holdings, making the stock its 8th largest holding. Trust Point Inc.'s holdings in Quanta Services were worth $17,932,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Quanta Services in the fourth quarter valued at about $298,000. Union Bancaire Privee UBP SA acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $46,364,000. Valeo Financial Advisors LLC boosted its position in shares of Quanta Services by 22.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 3,261 shares of the construction company's stock worth $1,031,000 after purchasing an additional 605 shares during the period. Everhart Financial Group Inc. increased its holdings in Quanta Services by 3.0% in the 4th quarter. Everhart Financial Group Inc. now owns 4,265 shares of the construction company's stock valued at $1,348,000 after purchasing an additional 125 shares during the last quarter. Finally, Principal Securities Inc. raised its position in Quanta Services by 9.0% in the fourth quarter. Principal Securities Inc. now owns 2,259 shares of the construction company's stock valued at $714,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 1.0%

PWR stock traded up $3.51 during midday trading on Monday, reaching $361.77. 839,830 shares of the company were exchanged, compared to its average volume of 1,500,096. The company has a market cap of $53.64 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $367.00. The stock's 50-day simple moving average is $316.61 and its 200 day simple moving average is $304.39.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion for 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%. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research note on Friday, May 2nd. Finally, Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services 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.