UMB Bank n.a. Lowers Position in Quanta Services, Inc. (NYSE:PWR)

UMB Bank n.a. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,306 shares of the construction company's stock after selling 31,801 shares during the quarter. UMB Bank n.a.'s holdings in Quanta Services were worth $4,399,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its position in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after acquiring an additional 2,184 shares during the period. Allstate Corp purchased a new position in shares of Quanta Services in the 4th quarter valued at about $1,357,000. Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter worth about $298,000. Quaero Capital S.A. boosted its position in Quanta Services by 198.2% during the fourth quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company's stock worth $2,253,000 after purchasing an additional 4,738 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in Quanta Services by 3.9% in the fourth quarter. Truist Financial Corp now owns 479,857 shares of the construction company's stock valued at $151,659,000 after purchasing an additional 18,206 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on PWR shares. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. TD Cowen increased their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research report on Friday, May 2nd. Citigroup cut their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Truist Financial reduced their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Six equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $347.35.

Quanta Services Stock Up 0.5%

Shares of PWR opened at $361.20 on Monday. The stock has a fifty day simple moving average of $306.00 and a two-hundred day simple moving average of $303.99. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $53.55 billion, a PE ratio of 59.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the business earned $1.41 earnings per share. Quanta Services's revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced 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 yield of 0.11%. Quanta Services's dividend payout ratio is currently 6.45%.

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.

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