Quanta Services, Inc. (NYSE:PWR) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,388 shares of the construction company’s stock after selling 1,423 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Quanta Services were worth $8,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Versor Investments LP purchased a new position in Quanta Services during the third quarter worth about $406,000. Kestra Private Wealth Services LLC boosted its stake in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares during the period. Principal Financial Group Inc. boosted its stake in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp boosted its stake in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after buying an additional 2,557 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 4.1 %

Shares of Quanta Services stock opened at $269.75 on Friday. Quanta Services, Inc. has a 52-week low of $221.07 and a 52-week high of $365.88. The company has a 50 day moving average of $316.02 and a 200 day moving average of $305.58. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $39.82 billion, a P/E ratio of 44.73, a P/E/G ratio of 1.41 and a beta of 1.05.

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, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on PWR. BMO Capital Markets began coverage on shares of Quanta Services in a research note on Monday, February 3rd. They set an “outperform” rating and a $338.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

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.