Whittier Trust Co. Has $2 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Whittier Trust Co. boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,319 shares of the construction company’s stock after purchasing an additional 425 shares during the quarter. Whittier Trust Co.’s holdings in Quanta Services were worth $1,997,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. boosted its stake in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the fourth quarter valued at about $27,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at about $31,000. Finally, Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent research reports. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Performance

NYSE:PWR opened at $268.43 on Friday. The business’s fifty day moving average is $289.30 and its 200 day moving average is $303.94. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is 6.63%.

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.