Rakuten Securities Inc. Buys 113 Shares of Quanta Services, Inc. (NYSE:PWR)

Rakuten Securities Inc. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1,027.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 124 shares of the construction company’s stock after acquiring an additional 113 shares during the quarter. Rakuten Securities Inc.’s holdings in Quanta Services were worth $39,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. lifted its holdings in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Quanta Services during the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Quanta Services by 700.0% during the 4th 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. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 1.4 %

NYSE:PWR opened at $249.47 on Thursday. The firm has a market capitalization of $36.97 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The stock’s 50 day moving average price is $298.12 and its two-hundred day moving average price is $304.89. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent analyst reports. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Stifel Nicolaus dropped their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.