Commonwealth Equity Services LLC Purchases 5,722 Shares of Quanta Services, Inc. (NYSE:PWR)

Commonwealth Equity Services LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 10.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,978 shares of the construction company’s stock after acquiring an additional 5,722 shares during the period. Commonwealth Equity Services LLC’s holdings in Quanta Services were worth $19,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB raised its holdings in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Quanta Services by 8.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock valued at $406,000 after acquiring an additional 106 shares during the period. Huntington National Bank raised its stake in shares of Quanta Services by 2.9% during the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after acquiring an additional 35 shares during the last quarter. KBC Group NV grew its stake in shares of Quanta Services by 13.4% in the third quarter. KBC Group NV now owns 13,094 shares of the construction company’s stock worth $3,904,000 after purchasing an additional 1,547 shares during the last quarter. Finally, Metis Global Partners LLC increased its holdings in Quanta Services by 3.0% in the third quarter. Metis Global Partners LLC now owns 5,871 shares of the construction company’s stock valued at $1,750,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PWR shares. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Truist Financial reduced their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus dropped their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Up 4.5 %

Quanta Services stock opened at $261.47 on Monday. The firm has a market capitalization of $38.75 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The firm’s fifty day moving average price is $294.19 and its two-hundred day moving average price is $304.56. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.