Frontier Asset Management LLC Sells 298 Shares of Quanta Services, Inc. (NYSE:PWR)

Frontier Asset Management LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,583 shares of the construction company’s stock after selling 298 shares during the quarter. Frontier Asset Management LLC’s holdings in Quanta Services were worth $1,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Quanta Services in the fourth quarter worth $203,068,000. Alkeon Capital Management LLC raised its holdings in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth $53,949,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Quanta Services during the fourth quarter worth $46,364,000. Finally, Public Sector Pension Investment Board raised its holdings in shares of Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after acquiring an additional 125,530 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $245.63 on Friday. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a 50-day simple moving average of $301.17 and a 200 day simple moving average of $305.05. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping 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 business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PWR shares. Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Citigroup decreased their target price 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. Finally, Stifel Nicolaus decreased their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.