Smartleaf Asset Management LLC Purchases 437 Shares of Quanta Services, Inc. (NYSE:PWR)

Smartleaf Asset Management LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 41.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,485 shares of the construction company’s stock after buying an additional 437 shares during the period. Smartleaf Asset Management LLC’s holdings in Quanta Services were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Alkeon Capital Management LLC boosted its holdings in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $53,949,000. Union Bancaire Privee UBP SA bought a new stake in Quanta Services during the 4th quarter valued at approximately $46,364,000. Public Sector Pension Investment Board grew its holdings in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after buying an additional 125,530 shares during the last quarter. Finally, State Street Corp increased its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on PWR. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Down 0.7 %

Shares of NYSE:PWR opened at $249.27 on Wednesday. The company has a market capitalization of $36.94 billion, a PE ratio of 41.34, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company’s fifty day moving average is $307.70 and its 200-day moving average is $305.88. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88.

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