Miller Financial Services LLC bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,760 shares of the construction company's stock, valued at approximately $556,000.
A number of other hedge funds also recently bought and sold shares of the company. Versor Investments LP acquired a new stake in shares of Quanta Services in the third quarter worth $406,000. Kestra Private Wealth Services LLC lifted its position in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after acquiring an additional 2,184 shares during the period. Principal Financial Group Inc. increased its position in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after purchasing an additional 11,012 shares during the period. Synovus Financial Corp raised its stake in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock valued at $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company's stock worth $12,509,000 after buying an additional 2,557 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Citigroup cut their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target for the company. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Bank of America started coverage on Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 target price for the company. Finally, Daiwa Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Six 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $326.95.
Get Our Latest Stock Analysis on PWR
Quanta Services Stock Up 2.2 %
Shares of NYSE:PWR traded up $5.50 during mid-day trading on Wednesday, reaching $251.53. 1,181,909 shares of the stock were exchanged, compared to its average volume of 1,772,132. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. 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 stock's 50 day simple moving average is $298.12 and its 200-day simple moving average is $304.89. The company has a market cap of $37.28 billion, a P/E ratio of 41.71, a P/E/G ratio of 1.41 and a beta of 1.10.
Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 18.00% and a net margin of 3.82%. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current 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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