Mechanics Bank Trust Department Sells 49 Shares of Quanta Services, Inc. (NYSE:PWR)

Mechanics Bank Trust Department lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in Quanta Services by 26.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company’s stock valued at $319,000 after acquiring an additional 262 shares during the period. First Eagle Investment Management LLC raised its position in shares of Quanta Services by 56.4% during the second quarter. First Eagle Investment Management LLC now owns 3,493 shares of the construction company’s stock worth $888,000 after acquiring an additional 1,260 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Quanta Services by 31.6% in the second quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock worth $476,000 after acquiring an additional 449 shares during the period. Intech Investment Management LLC boosted its stake in shares of Quanta Services by 81.9% in the 2nd quarter. Intech Investment Management LLC now owns 15,915 shares of the construction company’s stock valued at $4,044,000 after purchasing an additional 7,165 shares during the last quarter. Finally, Ieq Capital LLC increased its position in shares of Quanta Services by 9.9% during the second quarter. Ieq Capital LLC now owns 10,947 shares of the construction company’s stock worth $2,782,000 after buying an additional 985 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 0.3 %

Quanta Services stock opened at $337.10 on Monday. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm’s 50-day simple moving average is $329.35 and its 200 day simple moving average is $296.78. The stock has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the business posted $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. Research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is currently 7.38%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PWR shares. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Stifel Nicolaus increased their price target on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. UBS Group increased their price objective 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, Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.