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

Rockland Trust Co. bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, HoldingsChannel reports. The fund bought 809 shares of the construction company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the 3rd quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the third quarter worth about $31,000. Quest Partners LLC acquired a new position in shares of Quanta Services during the second quarter valued at about $35,000. Versant Capital Management Inc raised its position in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services in the 3rd quarter worth approximately $41,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Trading Up 2.9 %

PWR stock opened at $329.31 on Thursday. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $48.61 billion, a P/E ratio of 60.76 and a beta of 1.06. The company’s 50-day simple moving average is $328.93 and its 200-day simple moving average is $295.24.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $2.08 earnings per share. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

About Quanta Services

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.