Quanta Services, Inc. (NYSE:PWR) is Washington Trust Advisors Inc.’s 2nd Largest Position

Washington Trust Advisors Inc. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 190,966 shares of the construction company’s stock after selling 3,385 shares during the period. Quanta Services comprises approximately 5.0% of Washington Trust Advisors Inc.’s holdings, making the stock its 2nd biggest holding. Washington Trust Advisors Inc.’s holdings in Quanta Services were worth $60,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. Geode Capital Management LLC grew its stake in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after buying an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after acquiring an additional 43,715 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Quanta Services by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after acquiring an additional 45,486 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 1.4 %

Shares of Quanta Services stock opened at $253.20 on Thursday. The business has a 50-day moving average price of $306.07 and a 200 day moving average price of $305.76. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a market cap of $37.52 billion, a P/E ratio of 41.99, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

Several analysts recently issued reports on PWR shares. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Truist Financial reduced their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $326.95.

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.