Mengis Capital Management Inc. Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

Mengis Capital Management Inc. lessened its position in Quanta Services, Inc. (NYSE:PWRFree Report) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,150 shares of the construction company’s stock after selling 310 shares during the quarter. Quanta Services accounts for approximately 1.4% of Mengis Capital Management Inc.’s 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 reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Western Wealth Management LLC raised its holdings in Quanta Services by 3.8% in the second quarter. Western Wealth Management LLC now owns 1,597 shares of the construction company’s stock worth $314,000 after buying an additional 59 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Quanta Services by 0.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after acquiring an additional 67 shares during the last quarter. Gray Wealth Management Inc. lifted its position in Quanta Services by 6.2% in the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock valued at $218,000 after acquiring an additional 68 shares in the last quarter. Grove Bank & Trust raised its position in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares during the last quarter. Finally, 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 during the period. Institutional investors own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $212.00 to $237.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Citigroup upped their target price on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, January 26th. KeyCorp assumed coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Finally, The Goldman Sachs Group upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $214.00 to $211.00 in a report on Wednesday, November 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $220.80.

Read Our Latest Stock Analysis on PWR

Quanta Services Trading Up 0.7 %

Shares of Quanta Services stock traded up $1.49 during mid-day trading on Monday, hitting $211.60. The stock had a trading volume of 720,461 shares, compared to its average volume of 960,570. The firm 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 quick ratio of 1.57, a current ratio of 1.61 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $204.58 and a two-hundred day moving average of $194.16. Quanta Services, Inc. has a 12-month low of $147.33 and a 12-month high of $219.17.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Friday, December 29th. This is an increase from Quanta Services’s previous quarterly dividend of $0.08. Quanta Services’s dividend payout ratio is currently 7.68%.

Quanta Services Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWRFree Report).

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.