Forvis Mazars Wealth Advisors LLC Reduces Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Forvis Mazars Wealth Advisors LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,388 shares of the construction company’s stock after selling 1,423 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Quanta Services were worth $8,972,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Quanta Services in the 4th quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the third quarter worth $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the third quarter worth $30,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on PWR shares. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target on the stock. Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $331.53.

Quanta Services Price Performance

Shares of NYSE PWR opened at $269.75 on Friday. The firm has a 50-day simple moving average of $316.02 and a 200-day simple moving average of $305.58. The stock has a market capitalization of $39.82 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. 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, Inc. has a 52 week low of $221.07 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR) last issued its 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities analysts predict 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.