Fragasso Financial Advisors Inc Sells 2,665 Shares of Quanta Services, Inc. (NYSE:PWR)

Fragasso Financial Advisors Inc trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 23.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,501 shares of the construction company’s stock after selling 2,665 shares during the period. Fragasso Financial Advisors Inc’s holdings in Quanta Services were worth $2,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PWR. Norges Bank acquired a new stake in Quanta Services during the 4th quarter worth approximately $544,937,000. Capital World Investors boosted its holdings in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after buying an additional 891,977 shares during the period. GAMMA Investing LLC increased its position in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after acquiring an additional 811,797 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Quanta Services during the fourth quarter worth $203,068,000. Finally, Bank of America Corp DE lifted its position in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after acquiring an additional 506,722 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 0.7%

Quanta Services stock opened at $342.04 on Monday. 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’s 50-day moving average is $295.98 and its 200-day moving average is $303.10. The firm has a market capitalization of $50.71 billion, a PE ratio of 56.72, a P/E/G ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Quanta Services’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. Sell-side 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 declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup reduced their price objective on Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Evercore ISI increased their price objective on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Roth Mkm initiated coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $344.85.

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.