Great Lakes Advisors LLC Decreases Position in Quanta Services, Inc. (NYSE:PWR)

Great Lakes Advisors LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 11.5% in the 4th quarter, HoldingsChannel reports. The firm owned 372,177 shares of the construction company’s stock after selling 48,159 shares during the quarter. Quanta Services accounts for 1.0% of Great Lakes Advisors LLC’s portfolio, making the stock its 22nd biggest position. Great Lakes Advisors LLC’s holdings in Quanta Services were worth $117,626,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Quanta Services in the 4th quarter valued at approximately $203,068,000. Alkeon Capital Management LLC grew its position in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Quanta Services during the 4th quarter valued at $53,949,000. Union Bancaire Privee UBP SA purchased a new position in shares of Quanta Services during the 4th quarter valued at $46,364,000. Finally, Public Sector Pension Investment Board grew its position in shares of Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after purchasing an additional 125,530 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research analyst reports. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Roth Mkm initiated 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 for the company. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Up 4.1 %

Shares of Quanta Services stock opened at $246.48 on Wednesday. The company’s fifty day simple moving average is $299.51 and its 200-day simple moving average is $305.08. The stock has a market capitalization of $36.53 billion, a PE ratio of 40.88, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

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