Cadence Bank Sells 119 Shares of Quanta Services, Inc. (NYSE:PWR)

Cadence Bank reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 10,436 shares of the construction company’s stock after selling 119 shares during the period. Cadence Bank’s holdings in Quanta Services were worth $3,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. lifted its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC lifted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Centricity Wealth Management LLC purchased a new position in Quanta Services in the fourth quarter worth $34,000. Finally, Versant Capital Management Inc grew its stake in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 0.7 %

Shares of PWR stock opened at $267.47 on Friday. The company has a market capitalization of $39.64 billion, a PE ratio of 44.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The business’s fifty day moving average is $264.26 and its 200 day moving average is $301.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio is presently 6.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Piper Sandler began coverage on shares of Quanta Services in a report on Tuesday, April 8th. They issued an “overweight” rating and a $286.00 price target on the stock. Finally, Roth Mkm started coverage on Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.25.

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.