Navellier & Associates Inc. Purchases 3,525 Shares of Quanta Services, Inc. (NYSE:PWR)

Navellier & Associates Inc. raised its position in Quanta Services, Inc. (NYSE:PWR) by 6.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 62,402 shares of the construction company’s stock after acquiring an additional 3,525 shares during the period. Quanta Services makes up about 2.4% of Navellier & Associates Inc.’s holdings, making the stock its 5th largest position. Navellier & Associates Inc.’s holdings in Quanta Services were worth $19,722,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday. They set a “buy” rating and a $350.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Price Performance

Shares of NYSE PWR opened at $269.75 on Friday. 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 $316.02 and a two-hundred day simple moving average of $305.18. Quanta Services, Inc. has a 1-year low of $221.07 and a 1-year high of $365.88. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.