UMB Bank n.a. Decreases Position in Quanta Services, Inc. (NYSE:PWR)

UMB Bank n.a. decreased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,107 shares of the construction company's stock after selling 1,045 shares during the quarter. UMB Bank n.a.'s holdings in Quanta Services were worth $15,520,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the third quarter valued at approximately $31,000. Versant Capital Management Inc raised its stake in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after acquiring an additional 45 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services in the 3rd quarter valued at about $41,000. Finally, Eastern Bank purchased a new position in Quanta Services in the third quarter worth approximately $44,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Quanta Services stock traded up $0.91 during trading hours on Monday, reaching $337.10. 1,358,031 shares of the stock were exchanged, compared to its average volume of 847,447. The stock has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. The firm's 50 day moving average is $329.50 and its 200 day moving average is $297.36. 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 52-week low of $187.27 and a 52-week high of $350.19.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year. Analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued 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 was Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio is currently 7.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PWR shares. Truist Financial decreased their price objective on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research report on Thursday. Daiwa America raised Quanta Services to a "strong-buy" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target on the stock. UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $324.19.

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.