HighTower Advisors LLC Buys 11,659 Shares of Quanta Services, Inc. (NYSE:PWR)

HighTower Advisors LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,283 shares of the construction company’s stock after purchasing an additional 11,659 shares during the quarter. HighTower Advisors LLC owned approximately 0.07% of Quanta Services worth $34,855,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Natural Investments LLC bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $216,000. GC Wealth Management RIA LLC lifted its holdings in Quanta Services by 33.3% during the fourth quarter. GC Wealth Management RIA LLC now owns 980 shares of the construction company’s stock worth $310,000 after buying an additional 245 shares during the period. Miller Financial Services LLC bought a new stake in Quanta Services during the 4th quarter valued at $556,000. Citizens Financial Group Inc. RI increased its holdings in shares of Quanta Services by 52.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 53,622 shares of the construction company’s stock valued at $16,947,000 after acquiring an additional 18,415 shares during the period. Finally, Sage Mountain Advisors LLC bought a new position in shares of Quanta Services in the 4th quarter worth $204,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PWR. JPMorgan Chase & Co. raised their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Bank of America started 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, Stifel Nicolaus reduced their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Up 4.5 %

PWR stock opened at $261.47 on Friday. The company has a market capitalization of $38.75 billion, a P/E ratio of 43.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The firm’s fifty day simple moving average is $295.49 and its 200-day simple moving average is $304.13. 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 posted its quarterly earnings results 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 company 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 research analysts forecast 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.