Quanta Services, Inc. (NYSE:PWR) Shares Sold by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,069 shares of the construction company’s stock after selling 167 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Quanta Services were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services in the 3rd quarter worth $31,000. Quest Partners LLC purchased a new stake in shares of Quanta Services in the second quarter valued at about $35,000. Versant Capital Management Inc increased its stake in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in Quanta Services during the third quarter worth about $41,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PWR. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, Truist Financial lifted their price target on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Trading Up 0.3 %

Shares of PWR opened at $314.38 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The stock has a fifty day moving average of $328.26 and a two-hundred day moving average of $294.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $46.41 billion, a PE ratio of 58.00 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

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.