Quanta Services, Inc. (NYSE:PWR) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,214 shares of the construction company's stock after selling 36,897 shares during the quarter. Corient Private Wealth LLC owned about 0.36% of Quanta Services worth $168,207,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Ninepoint Partners LP increased its stake in shares of Quanta Services by 1.2% in the fourth quarter. Ninepoint Partners LP now owns 6,412 shares of the construction company's stock worth $2,027,000 after acquiring an additional 74 shares during the period. Diversified Enterprises LLC increased its stake in shares of Quanta Services by 99.4% in the fourth quarter. Diversified Enterprises LLC now owns 2,484 shares of the construction company's stock worth $785,000 after acquiring an additional 1,238 shares during the period. Natixis Advisors LLC increased its stake in shares of Quanta Services by 5.4% in the fourth quarter. Natixis Advisors LLC now owns 90,421 shares of the construction company's stock worth $28,578,000 after acquiring an additional 4,671 shares during the period. Family Firm Inc. acquired a new stake in shares of Quanta Services in the fourth quarter worth $207,000. Finally, First Eagle Investment Management LLC increased its stake in shares of Quanta Services by 3.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,953 shares of the construction company's stock worth $1,249,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PWR shares. B. Riley reiterated a "neutral" rating and issued a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday. BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Finally, Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $326.79.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $0.92 during midday trading on Thursday, hitting $271.32. The company's stock had a trading volume of 1,174,945 shares, compared to its average volume of 1,759,476. The business's 50 day simple moving average is $291.03 and its 200 day simple moving average is $304.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company 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 12-month low of $227.11 and a 12-month 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 for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

About Quanta Services

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.