Camden National Bank Has $11.01 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Camden National Bank lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,837 shares of the construction company’s stock after selling 576 shares during the period. Quanta Services comprises about 1.6% of Camden National Bank’s portfolio, making the stock its 19th biggest position. Camden National Bank’s holdings in Quanta Services were worth $11,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Swedbank AB lifted its stake in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Quanta Services by 12.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock worth $324,000 after acquiring an additional 124 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Quanta Services by 52.0% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,464 shares of the construction company’s stock valued at $1,033,000 after buying an additional 1,185 shares during the last quarter. Graypoint LLC purchased a new stake in shares of Quanta Services during the third quarter valued at approximately $217,000. Finally, TFB Advisors LLC bought a new stake in shares of Quanta Services during the 3rd quarter worth $218,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PWR. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Stifel Nicolaus cut their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Up 2.0 %

Shares of 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 firm has a market capitalization of $36.40 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.41 and a beta of 1.10. The company has a 50-day moving average of $302.72 and a 200 day moving average of $304.94. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

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.