Rockland Trust Co. Invests $256,000 in Quanta Services, Inc. (NYSE:PWR)

Rockland Trust Co. purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 809 shares of the construction company's stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Resurgent Financial Advisors LLC increased its position in shares of Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock worth $1,423,000 after acquiring an additional 33 shares in the last quarter. Tower Wealth Partners Inc. grew its position in Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company's stock worth $335,000 after purchasing an additional 34 shares in the last quarter. Huntington National Bank grew its position in Quanta Services by 2.9% in the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company's stock worth $370,000 after purchasing an additional 35 shares in the last quarter. Terra Nova Asset Management LLC grew its position in Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock worth $3,810,000 after purchasing an additional 38 shares in the last quarter. Finally, Greenleaf Trust grew its position in Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock worth $940,000 after purchasing an additional 38 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

PWR has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday. Citigroup boosted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Daiwa America upgraded shares of Quanta Services to a "strong-buy" rating in a research note 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $324.19.

Quanta Services Price Performance

NYSE PWR traded up $6.50 on Thursday, hitting $335.92. The stock had a trading volume of 1,469,574 shares, compared to its average volume of 1,030,824. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 61.98 and a beta of 1.06. The firm has a 50-day moving average of $328.93 and a 200-day moving average of $295.24.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the prior year, the company posted $2.08 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. Equities analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's dividend 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.