D.A. Davidson & CO. reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,650 shares of the construction company's stock after selling 9,881 shares during the period. D.A. Davidson & CO.'s holdings in Quanta Services were worth $17,272,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Webster Bank N. A. boosted its position in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Quanta Services in the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the 3rd quarter worth $31,000. Finally, Sound Income Strategies LLC increased its holdings in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after purchasing an additional 91 shares in the last quarter. 90.49% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They set a "buy" rating and a $407.00 price target on the stock. Northland Securities reissued an "outperform" rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating for the company. Daiwa America raised shares of Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $331.53.
Read Our Latest Analysis on PWR
Quanta Services Trading Down 4.1 %
Shares of PWR stock traded down $11.41 during trading hours on Friday, hitting $269.75. 3,467,677 shares of the company were exchanged, compared to its average volume of 1,594,487. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $221.07 and a fifty-two week high of $365.88. The company has a 50 day simple moving average of $316.02 and a two-hundred day simple moving average of $305.18. The firm has a market cap of $39.82 billion, a P/E ratio of 49.77, a P/E/G ratio of 1.46 and a beta of 1.05.
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, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Equities analysts anticipate that Quanta Services, Inc. will post 7.91 EPS for the current year.
Quanta Services Profile
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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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