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

Washington Trust Advisors Inc. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,951 shares of the construction company’s stock after selling 1,854 shares during the quarter. Quanta Services comprises approximately 4.3% of Washington Trust Advisors Inc.’s portfolio, making the stock its 3rd biggest holding. Washington Trust Advisors Inc. owned approximately 0.14% of Quanta Services worth $45,307,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new position in Quanta Services in the 4th quarter worth $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Quanta Services in the 4th quarter valued at about $28,000. Perkins Coie Trust Co purchased a new stake in Quanta Services during the 3rd quarter valued at about $30,000. Grove Bank & Trust increased its stake in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares during the period. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Quanta Services in the second quarter worth approximately $33,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.1 %

PWR traded up $0.26 during trading on Wednesday, hitting $259.44. 289,923 shares of the company’s stock traded hands, compared to its average volume of 948,257. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $262.01. The company’s 50 day simple moving average is $223.14 and its two-hundred day simple moving average is $201.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $37.81 billion, a price-to-earnings ratio of 51.73 and a beta of 1.10.

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

Insider Buying and Selling at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,024 shares of company stock worth $10,981,819. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PWR shares. Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Citigroup raised their price target on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. TD Cowen lifted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus upped their price target on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.54.

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.