Mengis Capital Management Inc. Sells 1,175 Shares of Quanta Services, Inc. (NYSE:PWR)

Mengis Capital Management Inc. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,930 shares of the construction company’s stock after selling 1,175 shares during the period. Quanta Services accounts for approximately 2.3% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Mengis Capital Management Inc.’s holdings in Quanta Services were worth $11,040,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

PWR has been the topic of several research reports. BMO Capital Markets initiated coverage on Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $328.11.

Quanta Services Trading Down 3.6 %

PWR stock opened at $259.79 on Tuesday. The company’s 50-day simple moving average is $314.37 and its 200-day simple moving average is $305.96. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The firm has a market cap of $38.35 billion, a P/E ratio of 43.08, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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.