Candriam S.C.A. Sells 37,046 Shares of Quanta Services, Inc. (NYSE:PWR)

Candriam S.C.A. trimmed its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 48.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 39,609 shares of the construction company's stock after selling 37,046 shares during the quarter. Candriam S.C.A.'s holdings in Quanta Services were worth $12,518,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC grew its position in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock worth $364,000 after purchasing an additional 29 shares during the period. HB Wealth Management LLC raised its stake in 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 lifted its holdings in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after buying an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC boosted its stake in shares of Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock worth $1,423,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

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Quanta Services Trading Up 4.1 %

Quanta Services stock traded up $9.77 during trading hours on Tuesday, hitting $246.48. The company had a trading volume of 2,447,484 shares, compared to its average volume of 1,786,321. The company has a 50-day moving average price of $299.51 and a two-hundred day moving average price of $305.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a market cap of $36.53 billion, a P/E ratio of 40.88, a P/E/G ratio of 1.41 and a beta of 1.10.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PWR shares. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They issued a "buy" rating and a $407.00 target price on the stock. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Finally, Truist Financial reduced their target price on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.