Washington Trust Advisors Inc. Reduces Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Washington Trust Advisors Inc. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,966 shares of the construction company's stock after selling 3,385 shares during the period. Quanta Services comprises about 5.0% of Washington Trust Advisors Inc.'s investment portfolio, making the stock its 2nd biggest holding. Washington Trust Advisors Inc. owned approximately 0.13% of Quanta Services worth $60,355,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Geneos Wealth Management Inc. grew its stake in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after acquiring an additional 29 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in shares of Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC grew its stake in shares of Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after acquiring an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its position in shares of Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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Quanta Services Price Performance

Shares of NYSE PWR traded up $4.75 during mid-day trading on Friday, reaching $245.63. 2,057,576 shares of the company traded hands, compared to its average volume of 1,752,731. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market cap of $36.40 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The stock has a fifty day simple moving average of $301.17 and a 200-day simple moving average of $305.31.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on PWR shares. BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and reduced their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their price target on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 price target on the stock. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $326.95.

Quanta Services 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.