Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,968 shares of the construction company’s stock after acquiring an additional 108 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Quanta Services were worth $3,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PWR. Alkeon Capital Management LLC raised its position in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Quanta Services during the 4th quarter worth $53,949,000. Union Bancaire Privee UBP SA bought a new position in Quanta Services during the 4th quarter worth $46,364,000. Public Sector Pension Investment Board grew its stake in Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after buying an additional 125,530 shares during the last quarter. Finally, State Street Corp grew its stake in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Truist Financial lowered their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Finally, Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Trading Up 2.0 %

Shares of PWR stock opened at $245.63 on Friday. The stock has a 50-day simple moving average of $302.72 and a 200 day simple moving average of $304.94. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The stock has a market capitalization of $36.40 billion, a P/E ratio of 40.73, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.