Camden National Bank Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Camden National Bank reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,413 shares of the construction company’s stock after selling 450 shares during the quarter. Quanta Services accounts for about 1.5% of Camden National Bank’s investment portfolio, making the stock its 27th largest holding. Camden National Bank’s holdings in Quanta Services were worth $10,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Versor Investments LP bought a new position in Quanta Services during the third quarter worth $406,000. Wealth Enhancement Advisory Services LLC lifted its stake in Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after acquiring an additional 21,003 shares during the period. Czech National Bank boosted its holdings in shares of Quanta Services by 8.9% during the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after acquiring an additional 2,264 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Quanta Services by 892.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after acquiring an additional 910 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

NYSE PWR opened at $341.90 on Friday. The stock’s 50-day moving average price is $307.80 and its two-hundred day moving average price is $279.67. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market cap of $50.47 billion, a PE ratio of 63.08 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $180.97 and a 1 year high of $343.70.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 6.64%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.