Verus Capital Partners LLC Purchases 157 Shares of Quanta Services, Inc. (NYSE:PWR)

Verus Capital Partners LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,419 shares of the construction company’s stock after purchasing an additional 157 shares during the quarter. Verus Capital Partners LLC’s holdings in Quanta Services were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB lifted its stake in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Quanta Services by 10.9% during the third quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock valued at $1,595,000 after purchasing an additional 526 shares during the last quarter. abrdn plc lifted its position in Quanta Services by 2.4% during the third quarter. abrdn plc now owns 87,803 shares of the construction company’s stock valued at $26,103,000 after purchasing an additional 2,080 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Quanta Services by 19.9% in the third quarter. First Trust Direct Indexing L.P. now owns 5,246 shares of the construction company’s stock worth $1,564,000 after purchasing an additional 870 shares during the last quarter. Finally, Financial Advocates Investment Management grew its position in Quanta Services by 12.5% in the 3rd quarter. Financial Advocates Investment Management now owns 6,953 shares of the construction company’s stock worth $2,073,000 after purchasing an additional 771 shares during the period. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Performance

NYSE:PWR opened at $259.32 on Friday. The stock has a 50-day moving average price of $310.62 and a 200 day moving average price of $305.40. The stock has a market capitalization of $38.43 billion, a P/E ratio of 43.01, a P/E/G ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Equities research 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.