Lyell Wealth Management LP acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,518 shares of the construction company's stock, valued at approximately $3,008,000.
Other institutional investors have also made changes to their positions in the company. Bank of Jackson Hole Trust bought a new position in Quanta Services during the fourth quarter worth $42,000. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Quanta Services by 75.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,644 shares of the construction company's stock worth $2,416,000 after buying an additional 3,282 shares during the period. Truist Financial Corp grew its stake in Quanta Services by 3.9% in the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company's stock valued at $151,659,000 after buying an additional 18,206 shares during the last quarter. Blue Chip Partners LLC raised its holdings in Quanta Services by 78.2% in the 4th quarter. Blue Chip Partners LLC now owns 56,681 shares of the construction company's stock valued at $17,914,000 after acquiring an additional 24,866 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Quanta Services by 4.6% during the fourth quarter. CIBC Asset Management Inc now owns 22,404 shares of the construction company's stock worth $7,081,000 after acquiring an additional 992 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Daiwa Capital Markets initiated coverage on Quanta Services in a research report on Friday, December 6th. They issued an "outperform" rating and a $355.00 target price on the stock. Daiwa America raised Quanta Services to a "strong-buy" rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Four investment 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. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $331.53.
View Our Latest Stock Analysis on PWR
Quanta Services Price Performance
Shares of NYSE PWR traded down $11.41 during mid-day trading on Friday, hitting $269.75. 3,467,677 shares of the stock traded hands, compared to its average volume of 1,594,487. Quanta Services, Inc. has a twelve month low of $221.07 and a twelve month high of $365.88. The firm has a 50 day simple moving average of $316.02 and a two-hundred day simple moving average of $305.18. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $39.82 billion, a PE ratio of 49.77, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.91 EPS for the current fiscal year.
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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