Intrust Bank NA Sells 885 Shares of Quanta Services, Inc. (NYSE:PWR)

Intrust Bank NA lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,434 shares of the construction company’s stock after selling 885 shares during the quarter. Quanta Services makes up approximately 0.9% of Intrust Bank NA’s portfolio, making the stock its 18th biggest holding. Intrust Bank NA’s holdings in Quanta Services were worth $7,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. AE Wealth Management LLC grew its position in Quanta Services by 22.0% in the third quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock worth $298,000 after acquiring an additional 287 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Quanta Services by 2.6% in the third quarter. Asset Management One Co. Ltd. now owns 88,290 shares of the construction company’s stock worth $16,516,000 after acquiring an additional 2,205 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Quanta Services by 3.0% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 7,389 shares of the construction company’s stock worth $1,382,000 after acquiring an additional 218 shares in the last quarter. AMI Asset Management Corp grew its position in Quanta Services by 0.6% in the third quarter. AMI Asset Management Corp now owns 303,511 shares of the construction company’s stock worth $56,778,000 after acquiring an additional 1,669 shares in the last quarter. Finally, Cavalier Investments LLC grew its position in Quanta Services by 3.7% in the third quarter. Cavalier Investments LLC now owns 5,935 shares of the construction company’s stock worth $1,110,000 after acquiring an additional 210 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on PWR shares. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. 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. Truist Financial assumed coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. DA Davidson upped their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Citigroup increased their price objective 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $247.67.

Quanta Services Price Performance

Shares of PWR stock traded up $0.68 on Monday, hitting $262.34. 883,605 shares of the stock traded hands, compared to its average volume of 920,680. The firm has a market cap of $38.40 billion, a price-to-earnings ratio of 52.23 and a beta of 1.11. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The firm has a 50 day simple moving average of $246.91 and a two-hundred day simple moving average of $212.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $1.54 EPS. The business’s revenue was up 31.0% on a year-over-year basis. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred 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 transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the sale, the executive vice president now directly owns 41,954 shares in the company, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 in the last 90 days. 1.10% of the stock is owned by corporate 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.