Private Wealth Partners LLC Invests $267,000 in Quanta Services, Inc. (NYSE:PWR)

Private Wealth Partners LLC bought a new position in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 846 shares of the construction company’s stock, valued at approximately $267,000.

Other institutional investors have also recently modified their holdings of the company. Versor Investments LP purchased a new stake in shares of Quanta Services in the third quarter worth $406,000. Kestra Private Wealth Services LLC lifted its stake in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares during the period. Principal Financial Group Inc. lifted its stake in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares during the period. Synovus Financial Corp grew its stake in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after acquiring an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd raised its holdings in shares of Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

NYSE PWR opened at $280.89 on Friday. The company has a market capitalization of $41.46 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The business’s fifty day moving average is $317.38 and its 200 day moving average is $304.97. Quanta Services, Inc. has a fifty-two week low of $206.58 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Sell-side analysts predict that Quanta Services, Inc. will post 7.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PWR. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Truist Financial dropped their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. BMO Capital Markets assumed coverage on Quanta Services in a research note on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services 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.