Intrust Bank NA Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Intrust Bank NA trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,434 shares of the construction company’s stock after selling 885 shares during the quarter. Quanta Services comprises about 0.9% of Intrust Bank NA’s investment portfolio, making the stock its 18th largest holding. Intrust Bank NA’s holdings in Quanta Services were worth $7,862,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PWR. Truist Financial Corp grew its stake in shares of Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after purchasing an additional 9,421 shares during the period. Carnegie Capital Asset Management LLC grew its stake in shares of Quanta Services by 24.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares during the period. Gradient Investments LLC grew its stake in shares of Quanta Services by 669,187.5% during the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares during the period. Saxon Interests Inc. acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $1,352,000. Finally, Nordea Investment Management AB grew its stake in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after acquiring an additional 901,548 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.3 %

PWR traded up $0.68 on Monday, reaching $262.34. The company’s stock had a trading volume of 883,605 shares, compared to its average volume of 920,680. The stock has a 50 day moving average of $246.91 and a two-hundred day moving average of $212.10. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $38.40 billion, a price-to-earnings ratio of 52.23 and a beta of 1.11. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 earnings per share. As a group, analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is currently 7.19%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PWR. Evercore ISI began coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. KeyCorp began coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Stifel Nicolaus boosted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. TD Cowen boosted their price target on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, Citigroup boosted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.67.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the transaction, the executive vice president now owns 41,954 shares in the company, valued at $10,052,597.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 over the last three months. 1.10% of the stock is currently owned by company insiders.

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.