Berkshire Asset Management LLC PA Buys New Position in Quanta Services, Inc. (NYSE:PWR)

Berkshire Asset Management LLC PA bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,125 shares of the construction company's stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Swedbank AB raised its position in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Farther Finance Advisors LLC raised its position in Quanta Services by 12.9% during the third quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company's stock worth $324,000 after acquiring an additional 124 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Quanta Services by 52.0% during the third quarter. Concurrent Investment Advisors LLC now owns 3,464 shares of the construction company's stock worth $1,033,000 after acquiring an additional 1,185 shares during the last quarter. Graypoint LLC acquired a new position in Quanta Services during the third quarter worth about $217,000. Finally, TFB Advisors LLC acquired a new position in shares of Quanta Services in the third quarter valued at approximately $218,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the subject of a number of analyst reports. Stifel Nicolaus cut their price objective 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. Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 price objective for the company. Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Roth Mkm started coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $326.95.

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Quanta Services Stock Down 5.1 %

PWR traded down $12.48 during trading on Monday, hitting $233.54. The company had a trading volume of 1,693,667 shares, compared to its average volume of 1,748,414. The company has a market cap of $34.61 billion, a PE ratio of 38.73, a P/E/G ratio of 1.41 and a beta of 1.10. The business has a 50-day moving average of $301.17 and a 200-day moving average of $305.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for 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, analysts forecast 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.