Moran Wealth Management LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,582 shares of the construction company's stock after selling 2,863 shares during the period. Moran Wealth Management LLC's holdings in Quanta Services were worth $21,359,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in 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 Quanta Services in the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the third quarter worth $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services during the third quarter worth $31,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 700.0% during 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 period. 90.49% of the stock is owned by hedge funds and other institutional investors.
Quanta Services Stock Up 2.0 %
Shares of PWR stock opened at $245.63 on Monday. The stock's fifty day moving average price is $301.17 and its 200 day moving average price is $305.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a market cap of $36.40 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on PWR. Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They set a "buy" rating and a $407.00 price objective for the company. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. JPMorgan Chase & Co. lifted 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. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Finally, Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Six equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $326.95.
Get Our Latest Report on Quanta Services
Quanta Services Profile
(
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.
See Also
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