Quanta Services, Inc. (NYSE:PWR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 603,886 shares of the construction company's stock after selling 1,896 shares during the quarter. PNC Financial Services Group Inc. owned about 0.41% of Quanta Services worth $190,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. increased its holdings in shares of Quanta Services by 4,050.0% during the 4th 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 last quarter. Sierra Ocean LLC purchased a new position in Quanta Services in the fourth quarter worth approximately $27,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the third quarter worth $31,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 700.0% in 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 currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 4.1 %

Shares of PWR traded up $9.77 during midday trading on Tuesday, reaching $246.48. The stock had a trading volume of 2,447,537 shares, compared to its average volume of 1,786,324. The company has a market cap of $36.53 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 1.41 and a beta of 1.10. The company's fifty day simple moving average is $299.51 and its two-hundred day simple moving average is $305.08. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

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Quanta Services (NYSE:PWR - Get Free Report) last posted 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 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%. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PWR shares. Guggenheim assumed coverage on Quanta Services in a research report on Wednesday, January 8th. They set a "neutral" rating for the company. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 price target for the company. Stifel Nicolaus decreased their price objective on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Citigroup dropped their target price on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, BMO Capital Markets upgraded Quanta Services from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Six 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $326.95.

Quanta Services Profile

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.