Mengis Capital Management Inc. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,150 shares of the construction company’s stock after selling 310 shares during the period. Quanta Services comprises 1.4% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 20th largest holding. Mengis Capital Management Inc.’s holdings in Quanta Services were worth $6,763,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. 1ST Source Bank bought a new position in shares of Quanta Services during the third quarter worth about $251,000. Deutsche Bank AG raised its stake in Quanta Services by 19.0% during the 3rd quarter. Deutsche Bank AG now owns 426,470 shares of the construction company’s stock worth $79,780,000 after buying an additional 68,011 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its stake in Quanta Services by 8.6% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 874 shares of the construction company’s stock valued at $164,000 after acquiring an additional 69 shares in the last quarter. Varma Mutual Pension Insurance Co boosted its holdings in Quanta Services by 2.8% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 109,000 shares of the construction company’s stock worth $20,391,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Scout Investments Inc. grew its stake in shares of Quanta Services by 20.3% in the 3rd quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock worth $162,718,000 after acquiring an additional 155,586 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.
Quanta Services Stock Performance
Shares of PWR stock traded up $1.49 on Monday, reaching $211.60. The stock had a trading volume of 720,461 shares, compared to its average volume of 960,570. Quanta Services, Inc. has a 1 year low of $147.33 and a 1 year high of $219.17. The stock has a market cap of $30.74 billion, a P/E ratio of 44.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.57 and a current ratio of 1.61. The company has a 50 day simple moving average of $204.58 and a 200 day simple moving average of $194.16.
Quanta Services Increases Dividend
Analysts Set New Price Targets
Several brokerages have recently issued reports on PWR. KeyCorp started coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Citigroup upped their price target on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus upped their target price on shares of Quanta Services from $212.00 to $237.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, The Goldman Sachs Group upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and cut their price target for the company from $214.00 to $211.00 in a report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $220.80.
Quanta Services Profile
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
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