Envestnet Portfolio Solutions Inc. Sells 1,918 Shares of Quanta Services, Inc. (NYSE:PWR)

Envestnet Portfolio Solutions Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR) by 9.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,643 shares of the construction company’s stock after selling 1,918 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Quanta Services were worth $5,576,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC raised its stake in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp raised its stake in shares of Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after purchasing an additional 793 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC bought a new stake in shares of Quanta Services during the 4th quarter worth approximately $1,754,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of a number of analyst reports. Citigroup dropped 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. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Roth Mkm initiated coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Six investment 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’s stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Performance

PWR opened at $263.35 on Wednesday. The firm has a market cap of $39.03 billion, a P/E ratio of 43.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week 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 business’s fifty day moving average is $291.85 and its 200-day moving average is $304.45.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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.