Commonwealth Equity Services LLC Has $19.59 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Commonwealth Equity Services LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,978 shares of the construction company's stock after purchasing an additional 5,722 shares during the period. Commonwealth Equity Services LLC's holdings in Quanta Services were worth $19,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services during the fourth quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the third quarter worth about $31,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the third quarter worth about $30,000. Finally, Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after acquiring an additional 91 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.3 %

Shares of NYSE:PWR traded up $0.92 during trading on Thursday, reaching $271.32. 1,174,745 shares of the company traded hands, compared to its average volume of 1,759,466. The firm has a fifty day simple moving average of $291.03 and a 200 day simple moving average of $304.22. The firm has a market cap of $40.21 billion, a P/E ratio of 45.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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Quanta Services (NYSE:PWR - Get Free Report) last issued 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 company had revenue of $6.55 billion during 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%. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Truist Financial dropped their price target 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. BMO Capital Markets upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and dropped their price target for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Finally, B. Riley reiterated a "neutral" rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $326.79.

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.