City Holding Co. Sells 30 Shares of Quanta Services, Inc. (NYSE:PWR)

City Holding Co. lessened its position in Quanta Services, Inc. (NYSE:PWR) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129 shares of the construction company’s stock after selling 30 shares during the quarter. City Holding Co.’s holdings in Quanta Services were worth $41,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cascade Investment Group Inc. increased its holdings in shares of Quanta Services by 1.2% during the 4th quarter. Cascade Investment Group Inc. now owns 2,687 shares of the construction company’s stock worth $849,000 after purchasing an additional 32 shares during the period. My Legacy Advisors LLC boosted its position in Quanta Services by 2.9% in the fourth quarter. My Legacy Advisors LLC now owns 4,155 shares of the construction company’s stock valued at $1,369,000 after buying an additional 117 shares in the last quarter. Oak Ridge Investments LLC boosted its position in Quanta Services by 5.2% in the fourth quarter. Oak Ridge Investments LLC now owns 20,675 shares of the construction company’s stock valued at $6,534,000 after buying an additional 1,025 shares in the last quarter. BNC Wealth Management LLC acquired a new position in Quanta Services in the fourth quarter valued at about $4,125,000. Finally, TruWealth Advisors LLC lifted its position in shares of Quanta Services by 1.3% during the fourth quarter. TruWealth Advisors LLC now owns 45,553 shares of the construction company’s stock worth $14,397,000 after purchasing an additional 583 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $358.12 on Wednesday. The stock has a market cap of $52.86 billion, a P/E ratio of 66.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a fifty day moving average price of $330.11 and a two-hundred day moving average price of $298.10. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $358.72.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 EPS. As a group, equities analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Daiwa Capital Markets began coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Northland Securities reissued an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup increased their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $324.19.

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.