Quanta Services, Inc. (NYSE:PWR) Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,385 shares of the construction company's stock after selling 7,247 shares during the period. Quanta Services makes up approximately 1.3% of Braun Stacey Associates Inc.'s investment portfolio, making the stock its 20th largest holding. Braun Stacey Associates Inc. owned 0.07% of Quanta Services worth $34,571,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Truist Financial Corp boosted its position in Quanta Services by 3.9% in the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company's stock worth $151,659,000 after purchasing an additional 18,206 shares in the last quarter. Blue Chip Partners LLC raised its stake in shares of Quanta Services by 78.2% during the 4th quarter. Blue Chip Partners LLC now owns 56,681 shares of the construction company's stock worth $17,914,000 after buying an additional 24,866 shares during the period. CIBC Asset Management Inc raised its stake in shares of Quanta Services by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 22,404 shares of the construction company's stock worth $7,081,000 after buying an additional 992 shares during the period. Highview Capital Management LLC DE raised its stake in shares of Quanta Services by 10.0% during the 4th quarter. Highview Capital Management LLC DE now owns 5,738 shares of the construction company's stock worth $1,813,000 after buying an additional 520 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Quanta Services in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 4.1 %

PWR stock traded down $11.41 during mid-day trading on Friday, reaching $269.75. The company had a trading volume of 3,467,677 shares, compared to its average volume of 1,594,487. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $39.82 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The firm has a fifty day simple moving average of $316.02 and a 200 day simple moving average of $305.18. Quanta Services, Inc. has a fifty-two week low of $221.07 and a fifty-two week 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 analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Analysts forecast that Quanta Services, Inc. will post 7.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PWR has been the subject of a number of recent research reports. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 target price for the company. Stifel Nicolaus raised their target price on Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Roth Mkm assumed coverage on Quanta Services in a report on Friday. They set a "buy" rating and a $350.00 price target for the company. Finally, Citigroup lowered their price target on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $331.53.

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.