Frontier Asset Management LLC Sells 298 Shares of Quanta Services, Inc. (NYSE:PWR)

Frontier Asset Management LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,583 shares of the construction company’s stock after selling 298 shares during the period. Frontier Asset Management LLC’s holdings in Quanta Services were worth $1,764,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versor Investments LP bought a new stake in shares of Quanta Services during the 3rd quarter worth approximately $406,000. Kestra Private Wealth Services LLC lifted its stake in Quanta Services by 85.0% in 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 purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Synovus Financial Corp lifted its stake in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd lifted its stake in Quanta Services by 6.5% in the 3rd 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. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PWR shares. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Up 2.0 %

NYSE:PWR opened at $245.63 on Friday. 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 $36.40 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.41 and a beta of 1.10. The firm has a fifty day simple moving average of $301.17 and a two-hundred day simple moving average of $305.05. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month 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, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Analysts expect 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.