First United Bank & Trust Buys 794 Shares of Quanta Services, Inc. (NYSE:PWR)

First United Bank & Trust raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 67.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,979 shares of the construction company’s stock after acquiring an additional 794 shares during the quarter. First United Bank & Trust’s holdings in Quanta Services were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Versor Investments LP purchased a new position in shares of Quanta Services in the third quarter worth about $406,000. Principal Financial Group Inc. boosted its holdings in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the period. Asio Capital LLC bought a new stake in Quanta Services during the 3rd quarter valued at $2,715,000. Waverton Investment Management Ltd lifted its position in shares of Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after acquiring an additional 1,830 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE:PWR opened at $337.10 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The firm has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The business has a 50 day moving average price of $329.50 and a 200-day moving average price of $297.36.

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

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio is presently 7.38%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PWR. Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Northland Securities reissued an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Citigroup increased their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

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.