Comerica Bank Acquires 1,451 Shares of Quanta Services, Inc. (NYSE:PWR)

Comerica Bank lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,832 shares of the construction company's stock after buying an additional 1,451 shares during the quarter. Comerica Bank's holdings in Quanta Services were worth $11,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Webster Bank N. A. boosted its stake in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Quarry LP purchased a new position in Quanta Services in the fourth quarter worth $26,000. Sierra Ocean LLC bought a new position in Quanta Services in the 4th quarter valued at $27,000. Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Finally, Centricity Wealth Management LLC bought a new stake in shares of Quanta Services during the 4th quarter worth $34,000. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of research analyst reports. B. Riley raised their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating on the stock. Citigroup cut their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, DA Davidson boosted their price objective on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $334.60.

Quanta Services Price Performance

NYSE:PWR traded up $2.39 during mid-day trading on Monday, reaching $323.53. The stock had a trading volume of 1,035,585 shares, compared to its average volume of 1,644,491. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a 50 day moving average price of $266.02 and a two-hundred day moving average price of $300.24. The stock has a market capitalization of $47.97 billion, a P/E ratio of 53.65, a P/E/G ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm's revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's dividend payout ratio is 6.63%.

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.