SVB Wealth LLC Invests $323,000 in Quanta Services, Inc. (NYSE:PWR)

SVB Wealth LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,023 shares of the construction company's stock, valued at approximately $323,000.

Other hedge funds have also recently made changes to their positions in the company. Alkeon Capital Management LLC raised its position in Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock worth $193,798,000 after purchasing an additional 250,000 shares during the period. Proficio Capital Partners LLC purchased a new stake in Quanta Services in the 4th quarter worth about $53,949,000. Union Bancaire Privee UBP SA purchased a new stake in Quanta Services in the 4th quarter worth about $46,364,000. Public Sector Pension Investment Board raised its position in Quanta Services by 81.7% in the 3rd 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 period. Finally, State Street Corp raised its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 2.0 %

PWR traded up $4.75 during trading on Friday, hitting $245.63. The stock had a trading volume of 2,057,576 shares, compared to its average volume of 1,752,731. The company has a market capitalization of $36.40 billion, a PE ratio of 40.73, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month 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 stock has a 50 day simple moving average of $301.17 and a two-hundred day simple moving average of $305.05.

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

Analysts Set New Price Targets

PWR has been the topic of a number of recent analyst reports. Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 target price on the stock. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial reduced their target price on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Six equities research 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. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $326.95.

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.