Washington Trust Advisors Inc. Has $45.31 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Washington Trust Advisors Inc. lowered its position in Quanta Services, Inc. (NYSE:PWR) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 209,951 shares of the construction company’s stock after selling 1,854 shares during the quarter. Quanta Services accounts for about 4.3% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 3rd biggest position. Washington Trust Advisors Inc.’s holdings in Quanta Services were worth $45,307,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PWR. ICA Group Wealth Management LLC bought a new position in Quanta Services during the fourth quarter valued at about $26,000. Coppell Advisory Solutions Corp. acquired a new position in Quanta Services in the 4th quarter worth approximately $28,000. Perkins Coie Trust Co purchased a new position in shares of Quanta Services during the third quarter valued at $30,000. Grove Bank & Trust lifted its position in shares of Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares in the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of Quanta Services during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity

In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 8,842 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $242.27, for a total value of $2,142,151.34. Following the sale, the executive vice president now owns 44,129 shares of the company’s stock, valued at $10,691,132.83. The disclosure for this sale can be found here. Insiders sold 46,024 shares of company stock valued at $10,981,819 over the last quarter. 1.30% of the stock is owned by company insiders.

Quanta Services Stock Performance

Quanta Services stock traded up $0.26 during midday trading on Wednesday, hitting $259.44. The company’s stock had a trading volume of 289,923 shares, compared to its average volume of 948,257. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The company has a market cap of $37.81 billion, a price-to-earnings ratio of 51.73 and a beta of 1.10. The company has a 50-day moving average price of $223.14 and a two-hundred day moving average price of $201.11. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $262.01.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. During the same quarter in the previous year, the business posted $1.54 earnings per share. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PWR shares. Evercore ISI started coverage on Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group boosted their price objective on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, KeyCorp assumed coverage on Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.54.

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.