Cambridge Trust Co. Takes $26,000 Position in Quanta Services, Inc. (NYSE:PWR)

Cambridge Trust Co. acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the first quarter, Holdings Channel reports. The institutional investor acquired 100 shares of the construction company’s stock, valued at approximately $26,000.

A number of other large investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Quanta Services by 3.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,819 shares of the construction company’s stock worth $1,256,000 after acquiring an additional 211 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Quanta Services by 3.1% during the fourth quarter. DAVENPORT & Co LLC now owns 8,788 shares of the construction company’s stock worth $1,896,000 after buying an additional 261 shares during the period. WealthShield Partners LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at $375,000. Ballentine Partners LLC raised its holdings in shares of Quanta Services by 3.9% in the 4th quarter. Ballentine Partners LLC now owns 3,221 shares of the construction company’s stock valued at $695,000 after buying an additional 121 shares during the period. Finally, Leavell Investment Management Inc. lifted its stake in Quanta Services by 7.1% during the 4th quarter. Leavell Investment Management Inc. now owns 9,862 shares of the construction company’s stock worth $2,129,000 after acquiring an additional 650 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock traded down $13.96 during midday trading on Friday, reaching $240.92. 1,787,626 shares of the company traded hands, compared to its average volume of 1,038,446. The firm has a market cap of $35.27 billion, a PE ratio of 46.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.32. The firm’s 50 day simple moving average is $264.85 and its two-hundred day simple moving average is $248.58. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s payout ratio is 6.98%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PWR. The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Citigroup raised their target price on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday. Argus boosted their price objective on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.00.

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.