Great Lakes Advisors LLC Sells 48,159 Shares of Quanta Services, Inc. (NYSE:PWR)

Great Lakes Advisors LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 372,177 shares of the construction company's stock after selling 48,159 shares during the period. Quanta Services comprises approximately 1.0% of Great Lakes Advisors LLC's investment portfolio, making the stock its 22nd largest holding. Great Lakes Advisors LLC owned 0.25% of Quanta Services worth $117,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Versor Investments LP acquired a new position in Quanta Services during the third quarter worth approximately $406,000. Kestra Private Wealth Services LLC increased its position in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after buying an additional 2,184 shares during the last quarter. Principal Financial Group Inc. increased its position in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock worth $61,932,000 after buying an additional 11,012 shares during the last quarter. Synovus Financial Corp increased its position in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after buying an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd grew its position in shares of Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company's stock valued at $12,509,000 after purchasing an additional 2,557 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR opened at $246.48 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The stock has a 50-day moving average of $299.51 and a 200-day moving average of $305.08. The company has a market cap of $36.53 billion, a PE ratio of 40.88, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88.

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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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PWR. JPMorgan Chase & Co. upped their target price on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 target price on the stock. Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. Finally, Citigroup cut their price target on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently 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.

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