Royal Harbor Partners LLC Takes $509,000 Position in Quanta Services, Inc. (NYSE:PWR)

Royal Harbor Partners LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,609 shares of the construction company's stock, valued at approximately $509,000.

Several other large investors have also modified their holdings of PWR. Raymond James Financial Inc. acquired a new position in Quanta Services in the fourth quarter valued at $203,068,000. Alkeon Capital Management LLC raised its stake in Quanta Services by 62.5% during the 3rd 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 last quarter. Proficio Capital Partners LLC purchased a new stake in Quanta Services during the 4th quarter valued at approximately $53,949,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $46,364,000. Finally, Public Sector Pension Investment Board raised its stake in shares of Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company's stock worth $83,210,000 after purchasing an additional 125,530 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Stifel Nicolaus cut their price objective on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Citigroup cut their price target 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. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating for the company. Finally, Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 target price for the company. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $326.95.

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Quanta Services Price Performance

Quanta Services stock traded up $4.75 during midday trading on Friday, reaching $245.63. 2,057,576 shares of the company were exchanged, compared to its average volume of 1,752,731. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 40.73, a P/E/G ratio of 1.41 and a beta of 1.10. 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 quick ratio of 1.19 and a current ratio of 1.30. The firm's 50-day simple moving average is $301.17 and its 200-day simple moving average is $305.31.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current 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.