Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 75.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,644 shares of the construction company's stock after acquiring an additional 3,282 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Quanta Services were worth $2,416,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of PWR. Creative Planning raised its position in shares of Quanta Services by 7.5% during the 3rd quarter. Creative Planning now owns 22,262 shares of the construction company's stock valued at $6,637,000 after buying an additional 1,562 shares during the period. Swedbank AB raised its position in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after purchasing an additional 42,579 shares during the period. Stratos Wealth Advisors LLC lifted its stake in shares of Quanta Services by 8.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,645 shares of the construction company's stock valued at $1,087,000 after purchasing an additional 285 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Quanta Services by 46.8% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the construction company's stock worth $368,000 after purchasing an additional 394 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Quanta Services by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 338,430 shares of the construction company's stock worth $100,903,000 after purchasing an additional 42,557 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.
Quanta Services Stock Down 4.1 %
PWR traded down $11.41 on Friday, reaching $269.75. The company's stock had a trading volume of 3,467,677 shares, compared to its average volume of 1,594,487. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a fifty-two week low of $221.07 and a fifty-two week high of $365.88. The stock has a 50 day moving average of $316.02 and a two-hundred day moving average of $305.18. The company has a market capitalization of $39.82 billion, a price-to-earnings 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 earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, analysts forecast that Quanta Services, Inc. will post 7.91 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating for the company. JPMorgan Chase & Co. upped their price target on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Northland Securities restated an "outperform" rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, Daiwa America raised Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $331.53.
Check Out Our Latest Report on Quanta Services
About Quanta Services
(
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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