Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,024,510 shares of the construction company’s stock after acquiring an additional 45,486 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of Quanta Services worth $323,797,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its position in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after buying an additional 29 shares during the period. HB Wealth Management LLC lifted its holdings in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after buying an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its position in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after buying an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC grew its stake in shares of Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus reduced their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Trading Up 1.7 %

NYSE:PWR opened at $268.86 on Thursday. The firm has a market capitalization of $39.84 billion, a P/E ratio of 44.59, a P/E/G ratio of 1.41 and a beta of 1.05. The business has a 50 day simple moving average of $311.89 and a 200 day simple moving average of $305.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS 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.