Fulton Bank N.A. Sells 986 Shares of Quanta Services, Inc. (NYSE:PWR)

Fulton Bank N.A. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 7.8% in the 1st quarter, Holdings Channel reports. The firm owned 11,621 shares of the construction company’s stock after selling 986 shares during the quarter. Fulton Bank N.A.’s holdings in Quanta Services were worth $2,954,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PWR. Banque Transatlantique SA purchased a new position in Quanta Services during the fourth quarter valued at approximately $25,000. Quarry LP bought a new position in Quanta Services in the 4th quarter valued at $26,000. Sierra Ocean LLC purchased a new position in shares of Quanta Services during the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Quanta Services in the fourth quarter worth $34,000. Finally, Rakuten Securities Inc. raised its position 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 worth $39,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock opened at $345.57 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The stock’s 50 day simple moving average is $297.68 and its two-hundred day simple moving average is $303.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market cap of $51.24 billion, a price-to-earnings ratio of 57.31, a PEG ratio of 1.41 and a beta of 1.02.

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

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. 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

PWR has been the topic of a number of research analyst reports. DA Davidson upped their target price on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Stifel Nicolaus upped their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. The Goldman Sachs Group lowered their target price on shares of Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Evercore ISI boosted their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $344.85.

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.