Trustmark National Bank Trust Department Buys New Shares in Quanta Services, Inc. (NYSE:PWR)

Trustmark National Bank Trust Department bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 710 shares of the construction company’s stock, valued at approximately $212,000.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Quanta Services in the first quarter valued at $25,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the first quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the second quarter valued at about $33,000. Quest Partners LLC bought a new position in shares of Quanta Services during the second quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Quanta Services during the second quarter valued at about $38,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PWR shares. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their target price on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Up 2.3 %

NYSE:PWR opened at $340.01 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $50.19 billion, a price-to-earnings ratio of 62.73 and a beta of 1.01. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $342.28. The business has a fifty day moving average price of $306.37 and a 200-day moving average price of $279.24.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 6.64%.

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.