Miller Financial Services LLC Invests $556,000 in Quanta Services, Inc. (NYSE:PWR)

Miller Financial Services LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,760 shares of the construction company’s stock, valued at approximately $556,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the third quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PWR shares. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Finally, Citigroup lowered their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Price Performance

Quanta Services stock opened at $236.09 on Tuesday. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. 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 has a 50 day simple moving average of $301.17 and a 200-day simple moving average of $305.31. The stock has a market capitalization of $34.99 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Equities 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.