Sprott Inc. Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Sprott Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,585 shares of the construction company’s stock after selling 77 shares during the period. Sprott Inc.’s holdings in Quanta Services were worth $817,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after purchasing an additional 46,357 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after purchasing an additional 43,715 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Quanta Services by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after buying an additional 45,486 shares during the period. Finally, Swedbank AB boosted its stake in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after buying an additional 42,579 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR stock opened at $264.35 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company’s fifty day moving average price is $312.93 and its two-hundred day moving average price is $305.99. The firm has a market capitalization of $39.02 billion, a P/E ratio of 43.84, a P/E/G ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last issued 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PWR. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their price objective 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. 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. Finally, Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

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.