Quanta Services, Inc. (NYSE:PWR) Position Lifted by Commerce Bank

Commerce Bank raised its stake in Quanta Services, Inc. (NYSE:PWR) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,447 shares of the construction company’s stock after acquiring an additional 220 shares during the period. Commerce Bank’s holdings in Quanta Services were worth $1,624,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PWR. Electron Capital Partners LLC raised its stake in 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 valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Swedbank AB bought a new position in Quanta Services during the first quarter worth $227,218,000. American Century Companies Inc. boosted its holdings in Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after purchasing an additional 369,581 shares during the period. Massachusetts Financial Services Co. MA increased 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 valued at $313,968,000 after purchasing an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Quanta Services by 297.3% during the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock worth $53,455,000 after purchasing an additional 161,574 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.6 %

PWR stock opened at $341.92 on Friday. The firm’s 50-day moving average is $309.24 and its two-hundred day moving average is $280.17. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $50.47 billion, a price-to-earnings ratio of 63.08 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $343.70.

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

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is 6.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PWR shares. Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Citigroup increased their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

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.