Clare Market Investments LLC Invests $553,000 in Quanta Services, Inc. (NYSE:PWR)

Clare Market Investments LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,750 shares of the construction company’s stock, valued at approximately $553,000.

Other large investors also recently made changes to their positions in the company. Webster Bank N. A. increased its stake in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC bought a new position in Quanta Services during the 4th quarter worth $27,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter worth $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services during the 3rd quarter worth $31,000. Finally, Sound Income Strategies LLC increased its stake in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PWR shares. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Stifel Nicolaus decreased their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Truist Financial decreased their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Down 4.0 %

Shares of NYSE:PWR opened at $236.09 on Tuesday. The company has a market capitalization of $34.99 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business’s 50-day moving average is $301.17 and its 200-day moving average is $305.31. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

About Quanta Services

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.