Quanta Services, Inc. (NYSE:PWR) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,961 shares of the construction company’s stock after acquiring an additional 149 shares during the period. New York Life Investment Management LLC’s holdings in Quanta Services were worth $6,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its position in shares of Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares in the last quarter. Geode Capital Management LLC increased its position in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after buying an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after buying an additional 43,715 shares during the period. Bank of New York Mellon Corp increased its position in Quanta Services by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after buying an additional 45,486 shares during the period. Finally, Swedbank AB increased its position in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after buying an additional 42,579 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 0.0 %

Quanta Services stock opened at $259.32 on Friday. 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 1-year low of $227.11 and a 1-year high of $365.88. The company has a market cap of $38.43 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The stock’s 50 day moving average price is $310.62 and its 200 day moving average price is $305.40.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PWR. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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 research report on Thursday, January 16th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.