Parallel Advisors LLC Sells 216 Shares of Quanta Services, Inc. (NYSE:PWR)

Parallel Advisors LLC cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,874 shares of the construction company’s stock after selling 216 shares during the period. Parallel Advisors LLC’s holdings in Quanta Services were worth $5,649,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Webster Bank N. A. raised its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PWR. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their price objective 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. Stifel Nicolaus decreased their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Six investment 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Up 2.6 %

Shares of NYSE:PWR opened at $267.54 on Tuesday. The company has a market cap of $39.65 billion, a price-to-earnings ratio of 44.37, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm’s 50-day simple moving average is $292.98 and its 200-day simple moving average is $304.54. 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 released its quarterly earnings data 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 firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current 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.