Principal Financial Group Inc. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,679 shares of the construction company's stock after selling 6,041 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Quanta Services worth $63,741,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Webster Bank N. A. grew its stake in 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 shares of Quanta Services during the fourth quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter valued at $30,000. Finally, Sound Income Strategies LLC boosted its stake in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $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.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on PWR. Stifel Nicolaus upped their target price on shares of Quanta Services from $374.00 to $388.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Roth Mkm started coverage on Quanta Services in a research note on Friday. They set a "buy" rating and a $350.00 price objective for the company. Citigroup lowered their target price on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They set an "outperform" rating and a $355.00 price target for the company. Finally, Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They set a "buy" rating and a $407.00 price target for the company. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $331.53.
Get Our Latest Stock Analysis on PWR
Quanta Services Price Performance
Shares of PWR traded down $11.41 during mid-day trading on Friday, reaching $269.75. 3,467,677 shares of the company's stock were exchanged, compared to its average volume of 1,735,450. Quanta Services, Inc. has a 52-week low of $221.07 and a 52-week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $316.02 and a two-hundred day simple moving average of $305.18. The company has a market cap of $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05.
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 for the quarter, beating 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 analyst estimates of $6.61 billion. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.
About Quanta Services
(
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.
Further Reading
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