Farmers Trust Co. Sells 200 Shares of Quanta Services, Inc. (NYSE:PWR)

Farmers Trust Co. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 14.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,180 shares of the construction company’s stock after selling 200 shares during the period. Farmers Trust Co.’s holdings in Quanta Services were worth $373,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the third quarter worth about $30,000. Versant Capital Management Inc raised its position in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the period. Valley Wealth Managers Inc. purchased a new position in Quanta Services in the second quarter valued at about $33,000. Finally, Quest Partners LLC bought a new position in shares of Quanta Services during the 2nd quarter valued at approximately $35,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial raised their target price on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Daiwa Capital Markets started coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $324.25.

Quanta Services Price Performance

Shares of Quanta Services stock traded down $8.72 during trading hours on Wednesday, hitting $311.09. The company’s stock had a trading volume of 754,616 shares, compared to its average volume of 841,810. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19. The business has a 50 day moving average price of $327.84 and a two-hundred day moving average price of $293.33. The company has a market cap of $45.92 billion, a PE ratio of 57.40 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.

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.