Quanta Services, Inc. (NYSE:PWR) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,874 shares of the construction company’s stock after selling 216 shares during the quarter. Parallel Advisors LLC’s holdings in Quanta Services were worth $5,649,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PWR. Webster Bank N. A. boosted its stake in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services in the 4th quarter worth about $27,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services during the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services during the 3rd quarter valued at about $31,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 2.6 %

Shares of Quanta Services stock opened at $267.54 on Tuesday. The company has a market capitalization of $39.65 billion, a P/E ratio of 44.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $292.98 and a 200 day simple moving average of $304.54. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on PWR. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.