Quanta Services, Inc. (NYSE:PWR) Stock Position Raised by FineMark National Bank & Trust

FineMark National Bank & Trust raised its stake in Quanta Services, Inc. (NYSE:PWR) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,174 shares of the construction company’s stock after acquiring an additional 1,398 shares during the period. Quanta Services accounts for about 0.9% of FineMark National Bank & Trust’s investment portfolio, making the stock its 22nd biggest holding. FineMark National Bank & Trust owned about 0.05% of Quanta Services worth $25,339,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. B. Riley restated a “neutral” rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Citigroup decreased their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Price Performance

NYSE PWR opened at $279.21 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a market cap of $41.38 billion, a PE ratio of 46.30, a PEG ratio of 1.41 and a beta of 1.10. The stock’s 50-day moving average price is $288.60 and its two-hundred day moving average price is $304.81.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is 6.63%.

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.