Garrison Bradford & Associates Inc. Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Garrison Bradford & Associates Inc. reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,419 shares of the construction company’s stock after selling 148 shares during the quarter. Quanta Services accounts for 6.1% of Garrison Bradford & Associates Inc.’s portfolio, making the stock its 6th largest position. Garrison Bradford & Associates Inc.’s holdings in Quanta Services were worth $5,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after acquiring an additional 89,975 shares in the last quarter. Geode Capital Management LLC lifted its position in Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after buying an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after buying an additional 43,715 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after buying an additional 45,486 shares in the last quarter. Finally, Swedbank AB increased its stake in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PWR shares. Roth Mkm assumed coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Stifel Nicolaus lowered their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Finally, Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Price Performance

PWR stock opened at $245.63 on Friday. The company has a fifty day moving average price of $301.17 and a 200-day moving average price of $305.05. The company has a market capitalization of $36.40 billion, a P/E ratio of 40.73, a PEG 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.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate 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 expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

About Quanta Services

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.