Stock Yards Bank & Trust Co. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Stock Yards Bank & Trust Co. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 53,387 shares of the construction company’s stock, valued at approximately $13,570,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. Brighton Jones LLC bought a new position in shares of Quanta Services during the 4th quarter valued at $298,000. Union Bancaire Privee UBP SA bought a new position in Quanta Services in the 4th quarter worth $46,364,000. Avestar Capital LLC raised its holdings in Quanta Services by 8.0% in the 4th quarter. Avestar Capital LLC now owns 2,934 shares of the construction company’s stock worth $927,000 after acquiring an additional 218 shares during the period. Asset Management One Co. Ltd. raised its holdings in Quanta Services by 4.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 80,451 shares of the construction company’s stock worth $25,997,000 after acquiring an additional 3,595 shares during the period. Finally, DT Investment Partners LLC grew its position in Quanta Services by 14.4% in the 4th quarter. DT Investment Partners LLC now owns 674 shares of the construction company’s stock worth $213,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock opened at $357.86 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm’s 50 day moving average is $316.61 and its 200-day moving average is $304.93. The firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of 59.35, a PEG ratio of 1.41 and a beta of 1.07. 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 results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Quanta Services’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 earnings per share. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have issued reports on PWR. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. The Goldman Sachs Group restated a “buy” rating and issued a $414.00 price target (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. UBS Group lifted their target price on shares of Quanta Services from $369.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Roth Mkm assumed coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Six research 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 company’s stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $349.65.

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.