Raymond James Financial Inc. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 642,520 shares of the construction company's stock, valued at approximately $203,068,000. Raymond James Financial Inc. owned approximately 0.44% of Quanta Services as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Alkeon Capital Management LLC raised its stake in shares of Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after acquiring an additional 250,000 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at $53,949,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Quanta Services in the fourth quarter valued at $46,364,000. Public Sector Pension Investment Board raised its stake in shares of Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company's stock valued at $83,210,000 after acquiring an additional 125,530 shares during the period. Finally, State Street Corp raised its stake in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after acquiring an additional 89,975 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on PWR shares. BMO Capital Markets upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Stifel Nicolaus cut their price target 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. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating on the stock. Finally, Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $326.95.
Read Our Latest Stock Analysis on PWR
Quanta Services Stock Up 2.0 %
Shares of PWR stock traded up $4.75 during mid-day trading on Friday, hitting $245.63. 2,057,576 shares of the stock traded hands, compared to its average volume of 1,752,731. The stock has a market cap of $36.40 billion, a P/E ratio of 40.73, a P/E/G ratio of 1.41 and a beta of 1.10. The stock's fifty day moving average is $301.17 and its two-hundred day moving average is $305.31. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week 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.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current 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.
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