Cibc World Markets Corp Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Cibc World Markets Corp boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 16.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,291 shares of the construction company’s stock after purchasing an additional 3,333 shares during the quarter. Cibc World Markets Corp’s holdings in Quanta Services were worth $7,361,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PWR. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the third quarter worth about $30,000. Finally, Sound Income Strategies LLC increased its holdings in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $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.

Quanta Services Trading Down 1.5 %

NYSE:PWR opened at $263.35 on Wednesday. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The business has a fifty day moving average of $291.85 and a 200-day moving average of $304.45.

Quanta Services (NYSE:PWR) last released 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 firm had revenue of $6.55 billion for 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%. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Truist Financial dropped their target price 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. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, 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 note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

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.