Simplicity Wealth LLC Acquires 199 Shares of Quanta Services, Inc. (NYSE:PWR)

Simplicity Wealth LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 28.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 908 shares of the construction company’s stock after acquiring an additional 199 shares during the period. Simplicity Wealth LLC’s holdings in Quanta Services were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Financial Services LLC raised its holdings in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC raised its holdings in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC raised its holdings in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC raised its holdings in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after acquiring an additional 33 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent analyst reports. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Roth Mkm assumed coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 target price for the company. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Down 4.0 %

Shares of Quanta Services stock opened at $236.09 on Tuesday. The company has a market capitalization of $34.99 billion, a P/E 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 quick ratio of 1.19 and a current ratio of 1.30. The company has a fifty day moving average of $301.17 and a 200 day moving average of $305.31. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

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.