Quanta Services, Inc. (NYSE:PWR) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,256 shares of the construction company’s stock after purchasing an additional 744 shares during the quarter. QRG Capital Management Inc.’s holdings in Quanta Services were worth $4,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new position in shares of Quanta Services in the third quarter worth about $406,000. Kestra Private Wealth Services LLC raised its holdings in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd grew its position in shares of Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent research reports. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Citigroup cut their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus cut their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $259.32 on Friday. 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 stock has a market capitalization of $38.43 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The business has a 50-day moving average of $310.62 and a 200 day moving average of $305.40. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share 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.