Quanta Services, Inc. (NYSE:PWR) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,949 shares of the construction company's stock after selling 4,067 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.24% of Quanta Services worth $111,233,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PWR. Creative Planning raised its holdings in shares of Quanta Services by 7.5% during the third quarter. Creative Planning now owns 22,262 shares of the construction company's stock valued at $6,637,000 after acquiring an additional 1,562 shares during the last quarter. Swedbank AB increased its holdings in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Quanta Services by 46.8% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the construction company's stock valued at $368,000 after purchasing an additional 394 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Quanta Services by 0.7% in the third quarter. Whittier Trust Co. now owns 5,894 shares of the construction company's stock valued at $1,757,000 after purchasing an additional 39 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Quanta Services by 252.7% in the third quarter. Sequoia Financial Advisors LLC now owns 5,372 shares of the construction company's stock valued at $1,602,000 after purchasing an additional 3,849 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PWR. JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They issued an "outperform" rating and a $355.00 price target for the company. Roth Mkm initiated coverage on Quanta Services in a research report on Friday. They issued a "buy" rating and a $350.00 price objective for the company. Citigroup lowered their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 price objective for the company. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $331.53.

Quanta Services Stock Down 4.1 %

NYSE:PWR traded down $11.41 during midday trading on Friday, reaching $269.75. The company had a trading volume of 3,467,677 shares, compared to its average volume of 1,594,487. The firm has a market capitalization of $39.82 billion, a price-to-earnings ratio of 49.77, a PEG ratio of 1.46 and a beta of 1.05. The stock's fifty day simple moving average is $316.02 and its 200-day simple moving average is $305.18. Quanta Services, Inc. has a 12-month low of $221.07 and a 12-month high of $365.88. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.91 earnings per share for the current fiscal year.

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.