Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Comerica Bank

Comerica Bank boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWRGet Rating) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,813 shares of the construction company’s stock after acquiring an additional 148 shares during the quarter. Comerica Bank’s holdings in Quanta Services were worth $2,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Quanta Services by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after purchasing an additional 182,092 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Quanta Services by 4.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,757,212 shares of the construction company’s stock valued at $721,609,000 after purchasing an additional 227,042 shares during the last quarter. State Street Corp increased its position in Quanta Services by 13.0% in the 2nd quarter. State Street Corp now owns 5,376,754 shares of the construction company’s stock valued at $674,294,000 after acquiring an additional 618,725 shares during the period. Royal Bank of Canada increased its position in Quanta Services by 52.2% in the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after acquiring an additional 511,508 shares during the period. Finally, Northern Trust Corp increased its position in Quanta Services by 11.8% in the 2nd quarter. Northern Trust Corp now owns 1,369,542 shares of the construction company’s stock valued at $171,658,000 after acquiring an additional 144,937 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the topic of several research analyst reports. StockNews.com initiated coverage on Quanta Services in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup upped their target price on Quanta Services from $161.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 9th. Credit Suisse Group increased their price target on Quanta Services from $168.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, November 4th. Cowen upped their price objective on Quanta Services from $155.00 to $165.00 in a report on Tuesday, December 27th. Finally, Cowen lifted their target price on shares of Quanta Services from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, December 27th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.92.

Quanta Services Price Performance

NYSE:PWR opened at $144.30 on Thursday. Quanta Services, Inc. has a 52 week low of $93.91 and a 52 week high of $155.00. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of 49.25 and a beta of 1.10. The firm’s 50-day simple moving average is $145.53 and its 200 day simple moving average is $139.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.60.

Quanta Services (NYSE:PWRGet Rating) last released its earnings results on Thursday, November 3rd. The construction company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.01). Quanta Services had a net margin of 2.61% and a return on equity of 16.35%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.38 billion. As a group, sell-side analysts predict that Quanta Services, Inc. will post 5.77 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were given a dividend of $0.08 per share. The ex-dividend date was Friday, December 30th. This is an increase from Quanta Services’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 0.22%. Quanta Services’s dividend payout ratio (DPR) is currently 10.92%.

Quanta Services Profile

(Get Rating)

Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

Featured Stories

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.