Penobscot Investment Management Company Inc. Purchases 4,775 Shares of Quanta Services, Inc. (NYSE:PWR)

Penobscot Investment Management Company Inc. increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,829 shares of the construction company’s stock after buying an additional 4,775 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Quanta Services were worth $6,869,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PWR. Adell Harriman & Carpenter Inc. grew its position in shares of Quanta Services by 4.7% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 117,026 shares of the construction company’s stock valued at $25,254,000 after purchasing an additional 5,293 shares during the last quarter. Guyasuta Investment Advisors Inc. bought a new position in shares of Quanta Services during the 4th quarter worth about $15,415,000. Choreo LLC acquired a new position in shares of Quanta Services during the fourth quarter valued at about $934,000. Marco Investment Management LLC lifted its stake in shares of Quanta Services by 21.2% in the fourth quarter. Marco Investment Management LLC now owns 15,869 shares of the construction company’s stock valued at $3,425,000 after buying an additional 2,779 shares during the period. Finally, Retirement Systems of Alabama acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $6,910,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus raised their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Citigroup upped their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Evercore ISI assumed coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. DA Davidson upped their price target on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.67.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Down 1.5 %

Shares of Quanta Services stock traded down $3.81 during trading on Tuesday, hitting $258.53. 383,205 shares of the company were exchanged, compared to its average volume of 916,597. The firm’s fifty day moving average price is $247.93 and its 200 day moving average price is $212.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market capitalization of $37.84 billion, a P/E ratio of 52.36 and a beta of 1.11. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company earned $1.54 earnings per share. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is 7.19%.

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.