Concurrent Investment Advisors LLC Buys 150 Shares of Quanta Services, Inc. (NYSE:PWR)

Concurrent Investment Advisors LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,614 shares of the construction company’s stock after purchasing an additional 150 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Quanta Services were worth $1,142,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PWR. Private Wealth Partners LLC acquired a new position in Quanta Services in the fourth quarter valued at approximately $267,000. TBH Global Asset Management LLC lifted its holdings in Quanta Services by 0.7% in the fourth quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company’s stock valued at $1,566,000 after buying an additional 34 shares during the period. Private Advisor Group LLC lifted its holdings in Quanta Services by 2.0% in the fourth quarter. Private Advisor Group LLC now owns 9,774 shares of the construction company’s stock valued at $3,089,000 after buying an additional 187 shares during the period. Lyell Wealth Management LP acquired a new position in Quanta Services in the fourth quarter valued at approximately $3,008,000. Finally, Bank of Jackson Hole Trust acquired a new position in Quanta Services in the fourth quarter valued at approximately $42,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PWR shares. Truist Financial cut their price objective 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. Robert W. Baird increased their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Roth Mkm began coverage on shares of Quanta Services in a report on Friday. They issued a “buy” rating and a $350.00 target price on the stock. Finally, BMO Capital Markets began coverage on shares of Quanta Services in a report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Quanta Services Trading Down 4.1 %

Shares of NYSE:PWR opened at $269.75 on Friday. Quanta Services, Inc. has a 12 month low of $221.07 and a 12 month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $316.02 and its 200 day simple moving average is $305.58. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during 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, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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.