Proficio Capital Partners LLC Acquires Shares of 170,698 Quanta Services, Inc. (NYSE:PWR)

Proficio Capital Partners LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 170,698 shares of the construction company's stock, valued at approximately $53,949,000. Quanta Services accounts for 0.7% of Proficio Capital Partners LLC's investment portfolio, making the stock its 20th largest position. Proficio Capital Partners LLC owned 0.12% of Quanta Services at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Alkeon Capital Management LLC lifted its holdings in 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 buying an additional 250,000 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Quanta Services during the fourth quarter worth $46,364,000. Public Sector Pension Investment Board increased its position 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 purchasing an additional 125,530 shares in the last quarter. State Street Corp increased its position in shares of Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of Quanta Services by 165.1% during the third quarter. Cerity Partners LLC now owns 133,885 shares of the construction company's stock worth $39,918,000 after purchasing an additional 83,390 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Roth Capital raised Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Citigroup cut their target price on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $326.95.

Quanta Services Price Performance

Shares of PWR stock traded up $11.18 during mid-day trading on Friday, hitting $261.47. 2,080,049 shares of the stock were exchanged, compared to its average volume of 1,792,142. The company has a market cap of $38.75 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The firm has a fifty day moving average of $295.49 and a 200 day moving average of $304.13. 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 (NYSE:PWR - Get Free Report) last issued its quarterly earnings results 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 for 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%. Research analysts anticipate 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.