Gulf International Bank UK Ltd Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Gulf International Bank UK Ltd decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,368 shares of the construction company’s stock after selling 115 shares during the period. Gulf International Bank UK Ltd’s holdings in Quanta Services were worth $3,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Webster Bank N. A. boosted its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the third quarter worth $31,000. Finally, Sound Income Strategies LLC lifted its position in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $338.00 to $316.00 in a report on Tuesday. Six equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

NYSE PWR opened at $258.83 on Friday. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $38.36 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 1.41 and a beta of 1.05. The stock has a 50-day moving average of $310.62 and a 200 day moving average of $305.40.

Quanta Services (NYSE:PWR) last released its earnings results 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. The company had revenue of $6.55 billion during 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%. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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.