CIBC Asset Management Inc Buys 992 Shares of Quanta Services, Inc. (NYSE:PWR)

CIBC Asset Management Inc boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,404 shares of the construction company’s stock after purchasing an additional 992 shares during the quarter. CIBC Asset Management Inc’s holdings in Quanta Services were worth $7,081,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PWR. Webster Bank N. A. increased its stake in shares of Quanta Services by 4,050.0% in the 4th 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 during the last quarter. Sierra Ocean LLC bought a new stake in Quanta Services in the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services during the third quarter worth about $31,000. Finally, Sound Income Strategies LLC grew its position in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PWR shares. UBS Group raised their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial cut their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus increased their price objective on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target 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. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services Stock Up 1.5 %

PWR opened at $292.04 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $318.48 and its 200 day simple moving average is $305.14. Quanta Services, Inc. has a 1-year low of $206.58 and a 1-year high of $365.88. The stock has a market cap of $43.11 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05.

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.