Wesbanco Bank Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 81.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,558 shares of the construction company's stock after selling 6,634 shares during the period. Wesbanco Bank Inc.'s holdings in Quanta Services were worth $396,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PWR. Kestra Private Wealth Services LLC boosted its stake 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 valued at $1,502,000 after buying an additional 2,184 shares in the last quarter. Allstate Corp purchased a new stake in shares of Quanta Services during the 4th quarter worth $1,357,000. Brighton Jones LLC acquired a new position in shares of Quanta Services during the 4th quarter worth $298,000. Quaero Capital S.A. increased its holdings in shares of Quanta Services by 198.2% in the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company's stock valued at $2,253,000 after purchasing an additional 4,738 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of 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 owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PWR has been the topic of several recent analyst reports. Argus set a $375.00 target price on shares of Quanta Services in a research report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price objective (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. DA Davidson upped their target price on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 price target for the company. Finally, Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.65.
Read Our Latest Stock Report on PWR
Quanta Services Trading Down 0.2%
Shares of NYSE PWR traded down $0.79 during trading on Friday, hitting $357.86. 796,164 shares of the company traded hands, compared to its average volume of 1,505,997. The firm has a market capitalization of $53.06 billion, a P/E ratio of 59.35, a P/E/G ratio of 1.41 and a beta of 1.07. 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 50-day moving average price of $316.61 and a 200-day moving average price of $304.66. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm's quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 earnings per share. On average, equities analysts predict 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. Stockholders 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 dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.45%.
About Quanta Services
(
Free Report)
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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