Mechanics Bank Trust Department Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

Mechanics Bank Trust Department reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,593 shares of the construction company’s stock after selling 49 shares during the quarter. Mechanics Bank Trust Department’s holdings in Quanta Services were worth $2,400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Electron Capital Partners LLC lifted its holdings in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Quanta Services by 4,701.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares during the period. International Assets Investment Management LLC grew its position in Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after buying an additional 147,980 shares in the last quarter. Finally, Meitav Investment House Ltd. bought a new position in Quanta Services in the 3rd quarter worth about $27,430,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.3 %

Shares of NYSE PWR opened at $337.10 on Monday. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. 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 firm has a fifty day simple moving average of $329.35 and a two-hundred day simple moving average of $296.78. The firm has a market capitalization of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 EPS. Equities analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PWR. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Stifel Nicolaus raised their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $324.19.

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.