Patten & Patten Inc. TN Buys Shares of 1,235 Quanta Services, Inc. (NYSE:PWR)

Patten & Patten Inc. TN bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,235 shares of the construction company's stock, valued at approximately $390,000.

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

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Quanta Services Trading Up 0.3 %

Shares of NYSE PWR traded up $0.92 during mid-day trading on Thursday, hitting $271.32. 1,174,745 shares of the company traded hands, compared to its average volume of 1,759,473. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 45.00, a PEG ratio of 1.41 and a beta of 1.10. The business has a 50 day moving average of $291.03 and a two-hundred day moving average of $304.22.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating for the company. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Roth Capital raised Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, B. Riley restated a "neutral" rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $326.79.

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.