Quanta Services, Inc. (NYSE:PWR) Shares Bought by Renasant Bank

Renasant Bank lifted its position in Quanta Services, Inc. (NYSE:PWR) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,319 shares of the construction company’s stock after buying an additional 348 shares during the quarter. Renasant Bank’s holdings in Quanta Services were worth $733,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in Quanta Services during the 4th quarter worth $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 3rd quarter valued at about $31,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Citigroup cut 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. Roth Mkm assumed 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, Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Six investment 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 company. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Up 0.6 %

NYSE PWR opened at $250.65 on Friday. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The firm has a 50-day moving average price of $296.79 and a 200 day moving average price of $304.51. The stock has a market capitalization of $37.15 billion, a P/E ratio of 41.57, a P/E/G ratio of 1.41 and a beta of 1.10. 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 announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Company 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.