Penobscot Investment Management Company Inc. Acquires 90 Shares of Quanta Services, Inc. (NYSE:PWR)

Penobscot Investment Management Company Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,609 shares of the construction company’s stock after purchasing an additional 90 shares during the period. Quanta Services makes up 1.0% of Penobscot Investment Management Company Inc.’s holdings, 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 filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after acquiring an additional 161,277 shares during the last quarter. State Street Corp raised its position in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after purchasing an additional 43,715 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Quanta Services by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after buying an additional 45,486 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Roth Mkm began coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Stock Down 0.8 %

Shares of NYSE:PWR opened at $276.16 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The business’s 50 day simple moving average is $287.74 and its two-hundred day simple moving average is $305.00. The firm has a market cap of $40.93 billion, a P/E ratio of 45.80, a PEG ratio of 1.41 and a beta of 1.10.

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

Quanta Services Announces Dividend

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

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.