Quanta Services, Inc. (NYSE:PWR) Shares Sold by Camden National Bank

Camden National Bank reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,837 shares of the construction company’s stock after selling 576 shares during the quarter. Quanta Services accounts for 1.6% of Camden National Bank’s holdings, making the stock its 19th largest position. Camden National Bank’s holdings in Quanta Services were worth $11,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Webster Bank N. A. lifted its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services in the fourth quarter worth $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the third quarter worth approximately $31,000. Finally, Sound Income Strategies LLC lifted its position in shares of 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 purchasing an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR opened at $245.63 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company’s 50 day simple moving average is $302.72 and its 200-day simple moving average is $304.94. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The stock has a market capitalization of $36.40 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PWR shares. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus reduced their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

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.