Van ECK Associates Corp Trims Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Van ECK Associates Corp cut its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,993 shares of the construction company's stock after selling 1,955 shares during the quarter. Van ECK Associates Corp's holdings in Quanta Services were worth $8,847,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Daiwa Capital Markets assumed coverage on Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 price target on the stock. Stifel Nicolaus lifted their price target on Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Citigroup lowered their price objective 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. Four research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $330.50.

Quanta Services Stock Down 3.8 %

Shares of PWR traded down $11.18 during midday trading on Thursday, reaching $280.89. The stock had a trading volume of 3,996,473 shares, compared to its average volume of 1,537,735. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company's fifty day simple moving average is $318.48 and its two-hundred day simple moving average is $305.14. The company has a market cap of $41.46 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 1.44 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $206.58 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping 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 research analysts expect that Quanta Services, Inc. will post 7.91 earnings per share 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.