Wesbanco Bank Inc. Has $396,000 Stake in Quanta Services, Inc. (NYSE:PWR)

Wesbanco Bank Inc. trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 81.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,558 shares of the construction company’s stock after selling 6,634 shares during the period. Wesbanco Bank Inc.’s holdings in Quanta Services were worth $396,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Banque Transatlantique SA bought a new stake in shares of Quanta Services in the 4th quarter worth about $25,000. Quarry LP acquired a new position in Quanta Services in the fourth quarter valued at about $26,000. Sierra Ocean LLC bought a new stake in Quanta Services during the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth approximately $34,000. Finally, Rakuten Securities Inc. raised its stake in shares of Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock valued at $39,000 after acquiring an additional 113 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR opened at $348.37 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market cap of $51.65 billion, a P/E ratio of 57.77, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The stock’s 50-day moving average price is $309.76 and its two-hundred day moving average price is $304.40. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Quanta Services’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s payout ratio is 6.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Argus set a $375.00 price target on Quanta Services in a research report on Monday, May 5th. TD Cowen increased their target price on Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. B. Riley raised their target price on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Finally, Citigroup decreased their price objective on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $347.35.

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.