Trustmark National Bank Trust Department Invests $212,000 in Quanta Services, Inc. (NYSE:PWR)

Trustmark National Bank Trust Department bought a new position in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 710 shares of the construction company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. EntryPoint Capital LLC purchased a new position in Quanta Services during the 1st quarter valued at about $25,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services in the 2nd quarter valued at $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Quanta Services in the 3rd quarter valued at $41,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial upped their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Up 2.3 %

Quanta Services stock opened at $340.01 on Friday. The company has a market capitalization of $50.19 billion, a P/E ratio of 62.73 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $342.28. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $306.37 and its 200-day simple moving average is $279.24.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 6.64%.

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.