Fiduciary Trust Co Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Fiduciary Trust Co raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,023 shares of the construction company’s stock after buying an additional 239 shares during the period. Fiduciary Trust Co’s holdings in Quanta Services were worth $2,536,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in Quanta Services during the fourth quarter valued at $25,000. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Quarry LP purchased a new stake in Quanta Services in the 4th quarter worth approximately $26,000. Sierra Ocean LLC bought a new stake in Quanta Services during the 4th quarter worth approximately $27,000. Finally, Sound Income Strategies LLC lifted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 0.1 %

PWR stock opened at $326.00 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The stock has a market capitalization of $48.33 billion, a price-to-earnings ratio of 54.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. 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 firm’s fifty day simple moving average is $271.55 and its two-hundred day simple moving average is $300.68.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating 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 company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the firm posted $1.41 EPS. The firm’s revenue was up 23.9% compared to the same quarter last year. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Argus set a $375.00 price target on Quanta Services in a report on Monday. The Goldman Sachs Group cut their target price on Quanta Services from $418.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Bank of America started coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Finally, Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $344.35.

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.