Quanta Services, Inc. (NYSE:PWR) Stock Position Cut by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,472 shares of the construction company's stock after selling 4,118 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Quanta Services worth $31,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PWR. Webster Bank N. A. boosted its position in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the 3rd quarter valued at $31,000. Finally, Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% in the 4th 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 last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Daiwa Capital Markets assumed coverage on Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 target price for the company. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Robert W. Baird raised their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus raised their target price on Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $331.53.

Quanta Services Price Performance

PWR traded down $11.41 during midday trading on Friday, reaching $269.75. 3,467,677 shares of the company's stock were exchanged, compared to its average volume of 1,594,487. The stock has a market capitalization of $39.82 billion, a PE ratio of 49.77, a P/E/G ratio of 1.46 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $221.07 and a 1-year high of $365.88. 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 business's 50-day moving average price is $316.02 and its 200 day moving average price is $305.18.

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 analysts' consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.91 EPS for the current fiscal year.

About Quanta Services

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.