Farmers Trust Co. Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Farmers Trust Co. lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,180 shares of the construction company’s stock after selling 200 shares during the quarter. Farmers Trust Co.’s holdings in Quanta Services were worth $373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in Quanta Services during the third quarter worth approximately $31,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the 3rd quarter valued at $30,000. Versant Capital Management Inc increased its holdings in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Quanta Services during the second quarter valued at $33,000. Finally, Quest Partners LLC acquired a new stake in Quanta Services in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 2.7 %

Shares of PWR stock traded down $8.72 during trading hours on Wednesday, hitting $311.09. The company had a trading volume of 754,616 shares, compared to its average volume of 841,810. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company’s fifty day moving average is $327.84 and its 200 day moving average is $293.33. The stock has a market capitalization of $45.92 billion, a PE ratio of 57.40 and a beta of 1.06.

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

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research analyst reports. Daiwa Capital Markets assumed coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Citigroup increased their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

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.