Tredje AP fonden Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Tredje AP fonden lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,882 shares of the construction company’s stock after selling 7,882 shares during the quarter. Tredje AP fonden’s holdings in Quanta Services were worth $2,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares during the last quarter. Commonwealth Financial Services LLC lifted its holdings in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after buying an additional 29 shares during the period. HB Wealth Management LLC boosted its stake in shares of Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after buying 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 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after buying an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in 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 during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.6 %

Shares of PWR opened at $250.65 on Friday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a 50 day simple moving average of $296.79 and a two-hundred day simple moving average of $304.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market cap of $37.15 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted 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 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, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

PWR has been the topic of several research reports. Stifel Nicolaus dropped their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price for the company. Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six investment 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.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

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.