First Business Financial Services Inc. Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

First Business Financial Services Inc. grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,794 shares of the construction company's stock after buying an additional 1,048 shares during the quarter. Quanta Services accounts for 0.4% of First Business Financial Services Inc.'s holdings, making the stock its 25th largest holding. First Business Financial Services Inc.'s holdings in Quanta Services were worth $4,044,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. lifted its holdings in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC bought a new position in shares of Quanta Services in the 4th quarter worth $27,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the 3rd quarter worth $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the third quarter valued at about $31,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE PWR traded up $4.75 on Friday, hitting $245.63. 2,057,576 shares of the company's stock traded hands, compared to its average volume of 1,752,731. The firm's 50-day moving average price is $301.17 and its two-hundred day moving average price is $305.05. The firm has a market capitalization of $36.40 billion, a PE ratio of 40.73, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88.

Remove Ads

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for 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%. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PWR. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Stifel Nicolaus lowered their target price 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. Citigroup cut their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Finally, Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating on the stock. Six 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $326.95.

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.