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

Washington Trust Advisors Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,966 shares of the construction company’s stock after selling 3,385 shares during the period. Quanta Services accounts for about 5.0% of Washington Trust Advisors Inc.’s holdings, making the stock its 2nd biggest position. Washington Trust Advisors Inc. owned approximately 0.13% of Quanta Services worth $60,355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the fourth 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 in the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services in the fourth quarter valued at about $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Stifel Nicolaus dropped their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Truist Financial decreased their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $253.20 on Thursday. The company has a 50-day simple moving average of $306.07 and a 200-day simple moving average of $305.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $37.52 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.