Cibc World Markets Corp Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cibc World Markets Corp lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,291 shares of the construction company’s stock after purchasing an additional 3,333 shares during the period. Cibc World Markets Corp’s holdings in Quanta Services were worth $7,361,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Financial Services LLC raised its stake in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after purchasing an additional 29 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC grew its holdings in shares of Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after buying an additional 33 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PWR. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Down 1.5 %

Shares of NYSE PWR opened at $263.35 on Wednesday. The stock has a fifty day moving average price of $291.85 and a 200 day moving average price of $304.45. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a market cap of $39.03 billion, a P/E ratio of 43.67, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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.