Checchi Capital Advisers LLC Trims Position in Quanta Services, Inc. (NYSE:PWR)

Checchi Capital Advisers LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,420 shares of the construction company’s stock after selling 53 shares during the period. Checchi Capital Advisers LLC’s holdings in Quanta Services were worth $449,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Financial Services LLC boosted its holdings in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares during the period. HB Wealth Management LLC grew its position in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC increased its stake in Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC increased its position in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of analyst reports. Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Northland Securities reissued 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. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Finally, Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Six 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 stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Performance

Quanta Services stock opened at $258.83 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. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The stock’s 50-day moving average is $310.62 and its 200-day moving average is $305.40. The company has a market cap of $38.36 billion, a price-to-earnings ratio of 42.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

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

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.