Callan Family Office LLC Invests $1.07 Million in Quanta Services, Inc. (NYSE:PWR)

Callan Family Office LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 3,372 shares of the construction company's stock, valued at approximately $1,066,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Swedbank AB grew its stake in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after purchasing an additional 42,579 shares during the period. Farther Finance Advisors LLC increased its holdings in Quanta Services by 12.9% in the third quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company's stock valued at $324,000 after buying an additional 124 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Quanta Services by 52.0% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,464 shares of the construction company's stock valued at $1,033,000 after acquiring an additional 1,185 shares during the period. Graypoint LLC purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $217,000. Finally, TFB Advisors LLC acquired a new stake in shares of Quanta Services in the 3rd quarter worth approximately $218,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 5.1 %

Shares of Quanta Services stock traded down $12.48 on Monday, hitting $233.54. 1,693,667 shares of the company's stock traded hands, compared to its average volume of 1,748,414. The stock has a market capitalization of $34.61 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The firm's 50-day moving average price is $301.17 and its two-hundred day moving average price is $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 one year low of $227.11 and a one year high of $365.88.

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Quanta Services (NYSE:PWR - Get Free Report) 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 firm had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PWR shares. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a "neutral" rating for the company. Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Daiwa Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $326.95.

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.