Checchi Capital Advisers LLC Sells 53 Shares of Quanta Services, Inc. (NYSE:PWR)

Checchi Capital Advisers LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,420 shares of the construction company’s stock after selling 53 shares during the period. Checchi Capital Advisers LLC’s holdings in Quanta Services were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PWR. Webster Bank N. A. boosted its position 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 worth $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Quanta Services in the fourth quarter valued at about $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the third quarter worth about $31,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Citigroup dropped their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $338.00 to $316.00 in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $258.83 on Friday. The company’s fifty day moving average price is $310.62 and its 200 day moving average price is $305.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a market capitalization of $38.36 billion, a PE ratio of 42.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping 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 company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. On average, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current 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.