Quanta Services, Inc. (NYSE:PWR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,679 shares of the construction company’s stock after selling 6,041 shares during the period. Principal Financial Group Inc. owned 0.14% of Quanta Services worth $63,741,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PWR. Creative Planning boosted its holdings in Quanta Services by 7.5% in the third quarter. Creative Planning now owns 22,262 shares of the construction company’s stock worth $6,637,000 after acquiring an additional 1,562 shares in the last quarter. Swedbank AB raised its position in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Blue Trust Inc. boosted its stake in Quanta Services by 46.8% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the construction company’s stock worth $368,000 after purchasing an additional 394 shares in the last quarter. Whittier Trust Co. increased its stake in Quanta Services by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock valued at $1,757,000 after purchasing an additional 39 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Quanta Services by 252.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,372 shares of the construction company’s stock valued at $1,602,000 after purchasing an additional 3,849 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. BMO Capital Markets initiated coverage on Quanta Services in a research note on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup dropped their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $292.04 on Thursday. The business’s 50 day moving average price is $318.48 and its 200-day moving average price is $305.14. Quanta Services, Inc. has a 1 year low of $206.58 and a 1 year high of $365.88. 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 firm has a market capitalization of $43.11 billion, a PE ratio of 53.88, a P/E/G ratio of 1.43 and a beta of 1.05.

Quanta Services Company 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.