Eastern Bank Purchases 227 Shares of Quanta Services, Inc. (NYSE:PWR)

Eastern Bank boosted its position in Quanta Services, Inc. (NYSE:PWR) by 152.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 376 shares of the construction company’s stock after acquiring an additional 227 shares during the period. Eastern Bank’s holdings in Quanta Services were worth $119,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PWR. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter worth $31,000. Quest Partners LLC purchased a new position in shares of Quanta Services in the second quarter valued at $35,000. Versant Capital Management Inc raised its stake in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Quanta Services during the 3rd quarter worth about $41,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PWR. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Stifel Nicolaus lifted their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wolfe Research assumed coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Finally, Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $319.22 on Wednesday. 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 company has a market capitalization of $47.12 billion, a PE ratio of 58.90 and a beta of 1.06. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The business has a fifty day moving average price of $328.56 and a 200-day moving average price of $295.00.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm posted $2.08 earnings per share. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is presently 7.38%.

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.