Kovack Advisors Inc. Has $3.03 Million Position in Quanta Services, Inc. (NYSE:PWR)

Kovack Advisors Inc. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,576 shares of the construction company’s stock after selling 102 shares during the quarter. Kovack Advisors Inc.’s holdings in Quanta Services were worth $3,027,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Versor Investments LP bought a new position in shares of Quanta Services during the third quarter worth about $406,000. Kestra Private Wealth Services LLC grew its holdings in shares of Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd grew its holdings in shares of Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after buying an additional 2,557 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PWR has been the subject of a number of research reports. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup decreased their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Six equities research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

NYSE:PWR opened at $268.86 on Thursday. The stock has a market cap of $39.84 billion, a P/E ratio of 44.59, a PEG ratio of 1.41 and a beta of 1.05. The stock has a 50 day simple moving average of $311.89 and a 200 day simple moving average of $305.73. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 18.00% and a net margin of 3.82%. Research analysts anticipate 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.