Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Renasant Bank

Renasant Bank raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 17.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,319 shares of the construction company’s stock after purchasing an additional 348 shares during the period. Renasant Bank’s holdings in Quanta Services were worth $733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in 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 in the last quarter. Assetmark Inc. boosted its holdings in shares of Quanta Services by 7.3% in the 3rd quarter. Assetmark Inc. now owns 5,781 shares of the construction company’s stock valued at $1,723,000 after purchasing an additional 392 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Quanta Services during the 3rd quarter worth $406,000. Apollon Wealth Management LLC boosted its holdings in Quanta Services by 2.1% in the third quarter. Apollon Wealth Management LLC now owns 6,072 shares of the construction company’s stock valued at $1,810,000 after acquiring an additional 122 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in Quanta Services by 3.7% during the third quarter. Harbour Investments Inc. now owns 4,215 shares of the construction company’s stock worth $1,257,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Citigroup decreased their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Up 0.6 %

Shares of Quanta Services stock opened at $250.65 on Friday. The stock has a market capitalization of $37.15 billion, a price-to-earnings ratio of 41.57, a PEG ratio of 1.41 and a beta of 1.10. The business’s 50 day simple moving average is $296.79 and its 200-day simple moving average is $304.51. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share 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 the consensus estimate of $6.61 billion. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share 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.