Penobscot Investment Management Company Inc. Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Penobscot Investment Management Company Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,609 shares of the construction company’s stock after acquiring an additional 90 shares during the quarter. Quanta Services comprises approximately 1.0% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 25th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Quanta Services were worth $11,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC boosted its position in shares of Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after buying an additional 29 shares in the last quarter. HB Wealth Management LLC grew its stake in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC increased its holdings in Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC raised its position in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.8 %

Shares of PWR stock opened at $276.16 on Wednesday. The firm has a market capitalization of $40.93 billion, a P/E ratio of 45.80, a PEG ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm’s fifty day moving average price is $287.74 and its two-hundred day moving average price is $305.00.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.63%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. B. Riley reaffirmed a “neutral” rating and set a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Finally, Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

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.