Edgestream Partners L.P. purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,786 shares of the construction company's stock, valued at approximately $4,673,000.
Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC increased its holdings in Quanta Services by 700.0% during the 4th 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. Institutional investors own 90.49% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on PWR shares. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Stifel Nicolaus cut their price target on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Finally, Truist Financial cut their price target on shares of 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 analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $326.95.
View Our Latest Stock Report on PWR
Quanta Services Trading Up 4.1 %
Shares of Quanta Services stock traded up $9.77 during trading on Tuesday, reaching $246.48. The company's stock had a trading volume of 2,447,537 shares, compared to its average volume of 1,786,324. The company has a market cap of $36.53 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average is $299.51 and its two-hundred day moving average is $305.08. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88.
Quanta Services (NYSE:PWR - Get Free Report) last announced 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 business 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%. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share 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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