Mechanics Bank Trust Department Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Mechanics Bank Trust Department increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 23.0% in the 3rd quarter, Holdings Channel reports. The firm owned 7,642 shares of the construction company’s stock after purchasing an additional 1,430 shares during the period. Mechanics Bank Trust Department’s holdings in Quanta Services were worth $2,278,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Quanta Services by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares in the last quarter. Capital World Investors increased its position in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. Electron Capital Partners LLC increased its position in shares of Quanta Services by 395.1% during the second 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. Finally, Massachusetts Financial Services Co. MA boosted its stake in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last quarter. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird boosted their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Northland Securities boosted their price objective on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.93.

Quanta Services Price Performance

PWR opened at $309.42 on Friday. The stock’s 50-day moving average price is $275.77 and its 200 day moving average price is $267.31. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $312.52. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The firm has a market cap of $45.30 billion, a price-to-earnings ratio of 59.97 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $1.47 EPS. Quanta Services’s revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.81 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

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.