Eastern Bank Has $119,000 Holdings in Quanta Services, Inc. (NYSE:PWR)

Eastern Bank boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 152.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 376 shares of the construction company’s stock after purchasing an additional 227 shares during the quarter. Eastern Bank’s holdings in Quanta Services were worth $119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PWR. Cooper Financial Group lifted its position in shares of Quanta Services by 3.5% during the 4th quarter. Cooper Financial Group now owns 1,165 shares of the construction company’s stock valued at $368,000 after acquiring an additional 39 shares during the period. Brookstone Capital Management boosted its holdings in shares of Quanta Services by 22.2% in the 4th quarter. Brookstone Capital Management now owns 29,982 shares of the construction company’s stock valued at $9,476,000 after purchasing an additional 5,445 shares in the last quarter. Fiduciary Alliance LLC increased its stake in shares of Quanta Services by 26.6% in the 4th quarter. Fiduciary Alliance LLC now owns 26,870 shares of the construction company’s stock valued at $8,492,000 after purchasing an additional 5,643 shares during the last quarter. Czech National Bank raised its holdings in shares of Quanta Services by 6.6% during the 4th quarter. Czech National Bank now owns 32,006 shares of the construction company’s stock worth $10,115,000 after buying an additional 1,994 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Quanta Services by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,910 shares of the construction company’s stock worth $920,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 1.6 %

Shares of Quanta Services stock opened at $319.22 on Wednesday. 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 stock has a fifty day simple moving average of $328.56 and a 200 day simple moving average of $295.00. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19. The company has a market capitalization of $47.12 billion, a P/E ratio of 58.90 and a beta of 1.06.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.71% and a net margin of 3.54%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share 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 dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 7.38%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent research reports. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating 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’s stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

Quanta Services Company 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.