Whittier Trust Co. Raises Stake in Quanta Services, Inc. (NYSE:PWR)

Whittier Trust Co. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.2% during the 4th quarter, HoldingsChannel reports. The fund owned 6,319 shares of the construction company’s stock after acquiring an additional 425 shares during the quarter. Whittier Trust Co.’s holdings in Quanta Services were worth $1,997,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PWR. Webster Bank N. A. lifted its stake in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR stock opened at $268.43 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a 50 day moving average price of $289.30 and a 200-day moving average price of $303.94. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10.

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

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio is currently 6.63%.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Stifel Nicolaus cut their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $326.79.

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.