Mechanics Bank Trust Department Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Mechanics Bank Trust Department lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,629 shares of the construction company's stock after acquiring an additional 1,036 shares during the quarter. Mechanics Bank Trust Department's holdings in Quanta Services were worth $2,193,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in Quanta Services in the 4th quarter valued at $25,000. Quarry LP acquired a new position in Quanta Services in the 4th quarter valued at $26,000. Sierra Ocean LLC acquired a new position in Quanta Services in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in Quanta Services in the 4th quarter valued at $34,000. Finally, Rakuten Securities Inc. raised its holdings in Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after acquiring an additional 113 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of several analyst reports. Truist Financial dropped their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Roth Capital raised Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target for the company. B. Riley boosted their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $347.35.

Quanta Services Trading Up 0.5%

Shares of Quanta Services stock traded up $1.92 on Thursday, hitting $361.03. 414,080 shares of the company's stock traded hands, compared to its average volume of 1,533,849. 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 current ratio of 1.30 and a quick ratio of 1.19. The company has a fifty day moving average of $301.84 and a two-hundred day moving average of $304.01. The company has a market capitalization of $53.53 billion, a price-to-earnings ratio of 59.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 EPS. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services's payout ratio is currently 6.45%.

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.