Camden National Bank Has $10.56 Million Position in Quanta Services, Inc. (NYSE:PWR)

Camden National Bank reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 35,413 shares of the construction company’s stock after selling 450 shares during the period. Quanta Services accounts for approximately 1.5% of Camden National Bank’s holdings, making the stock its 27th biggest position. Camden National Bank’s holdings in Quanta Services were worth $10,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter worth approximately $25,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the second quarter worth approximately $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Quanta Services in the second quarter valued at $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on PWR shares. JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. B. Riley upped their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Price Performance

Shares of PWR stock opened at $341.90 on Friday. The stock’s fifty day moving average is $307.80 and its 200-day moving average is $279.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $50.47 billion, a PE ratio of 63.08 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $343.70.

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 company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is currently 6.64%.

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.