1ST Source Bank Acquires 1,160 Shares of Quanta Services, Inc. (NYSE:PWR)

1ST Source Bank boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 59.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,099 shares of the construction company's stock after acquiring an additional 1,160 shares during the period. 1ST Source Bank's holdings in Quanta Services were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PWR. State Street Corp grew its stake in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC raised its holdings in Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after buying an additional 46,357 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after acquiring an additional 43,715 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Quanta Services by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock worth $323,797,000 after purchasing an additional 45,486 shares in the last quarter. Finally, Swedbank AB raised its position in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after buying an additional 42,579 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

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Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Citigroup dropped their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. B. Riley restated a "neutral" rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating on the stock. Finally, Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $326.79.

Quanta Services Price Performance

PWR traded down $2.67 during trading hours on Friday, hitting $268.43. The company's stock had a trading volume of 1,606,022 shares, compared to its average volume of 1,756,634. The stock has a market cap of $39.78 billion, a price-to-earnings ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10. The business's 50-day moving average price is $290.21 and its 200-day moving average price is $303.99. 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 12 month low of $227.11 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services's payout ratio is currently 6.63%.

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.