Royal Bank of Canada Sells 626 Shares of Quanta Services, Inc. (NYSE:PWR)

Royal Bank of Canada lowered its position in Quanta Services, Inc. (NYSE:PWR) by 0.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,427,476 shares of the construction company’s stock after selling 626 shares during the period. Royal Bank of Canada owned 0.97% of Quanta Services worth $451,153,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC increased its holdings in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after purchasing an additional 29 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC increased its holdings in shares of Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Quanta Services by 7.8% in the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 1.3%

PWR opened at $344.92 on Friday. The stock has a market capitalization of $51.14 billion, a P/E ratio of 57.20, a P/E/G ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The firm’s fifty day simple moving average is $281.22 and its 200 day simple moving average is $301.74. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Argus set a $375.00 target price on shares of Quanta Services in a report on Monday, May 5th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a report on Friday, May 2nd. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Finally, Citigroup lowered their target price on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $344.35.

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.