Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Truist Financial Corp

Truist Financial Corp increased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479,857 shares of the construction company's stock after purchasing an additional 18,206 shares during the period. Truist Financial Corp owned 0.33% of Quanta Services worth $151,659,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in shares of Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC grew its stake in shares of Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after acquiring an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC grew its stake in shares of Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 target price for the company. Citigroup reduced their price target 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. Truist Financial reduced their price target 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. Daiwa America raised shares of Quanta Services to a "strong-buy" rating in a research report on Friday, December 6th. Finally, Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a "neutral" rating on the stock. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $330.50.

Quanta Services Stock Performance

Shares of PWR traded down $11.18 during mid-day trading on Thursday, reaching $280.89. 3,996,676 shares of the company's stock traded hands, compared to its average volume of 1,537,739. The business's 50-day moving average price is $317.38 and its 200-day moving average price is $304.97. The stock has a market capitalization of $41.46 billion, a P/E ratio of 51.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 12 month low of $206.58 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results 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 return on equity of 16.71% and a net margin of 3.54%. Equities analysts predict that Quanta Services, Inc. will post 7.91 earnings per share for the current year.

About Quanta Services

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.