Clare Market Investments LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,750 shares of the construction company's stock, valued at approximately $553,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in shares of Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after acquiring an additional 29 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in shares of Quanta Services by 2.6% in the fourth 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 in the last quarter. HB Wealth Management LLC increased its stake in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock worth $1,050,000 after purchasing an additional 31 shares during the period. Moody Lynn & Lieberson LLC grew its holdings in shares of Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC raised its stake in shares of Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.
Quanta Services Stock Performance
Shares of PWR traded up $2.77 during midday trading on Wednesday, hitting $248.80. 1,089,489 shares of the stock traded hands, compared to its average volume of 1,771,017. 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 business's 50 day moving average price is $298.12 and its two-hundred day moving average price is $304.89. The firm has a market capitalization of $36.87 billion, a PE ratio of 41.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.
Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate 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 net margin of 3.82% and a return on equity of 18.00%. Equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and lowered their price objective for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Finally, Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $326.95.
View Our Latest Stock Analysis on Quanta Services
Quanta Services Profile
(
Free Report)
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.
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