Daiwa Securities Group Inc. boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,153 shares of the construction company's stock after purchasing an additional 4,631 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Quanta Services were worth $22,804,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Webster Bank N. A. grew 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 acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in Quanta Services during the fourth quarter worth $27,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the third quarter worth $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter valued at $30,000. Finally, Sound Income Strategies LLC grew 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 period. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Stock Up 1.1 %
Shares of NYSE PWR traded up $2.64 during mid-day trading on Wednesday, hitting $248.67. The company had a trading volume of 1,037,296 shares, compared to its average volume of 1,769,630. The company has a market capitalization of $36.85 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The business's 50-day simple moving average is $298.12 and its 200 day simple moving average is $304.89. 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.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. On average, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Roth Capital raised Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Guggenheim assumed coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a "neutral" rating on the stock. Stifel Nicolaus lowered their target price on Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Roth Mkm started coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. Finally, Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $326.95.
Read Our Latest Stock Analysis on PWR
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.
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