Skandinaviska Enskilda Banken AB publ Sells 100 Shares of Quanta Services, Inc. (NYSE:PWR)

Skandinaviska Enskilda Banken AB publ trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,795 shares of the construction company’s stock after selling 100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Quanta Services were worth $9,504,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PWR. Swedbank AB increased its holdings in shares of Quanta Services by 4.6% in the third 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. Assetmark Inc. increased its holdings in shares of Quanta Services by 7.3% in the third quarter. Assetmark Inc. now owns 5,781 shares of the construction company’s stock worth $1,723,000 after purchasing an additional 392 shares during the last quarter. Versor Investments LP bought a new stake in Quanta Services during the third quarter worth approximately $406,000. Harbour Investments Inc. increased its stake in Quanta Services by 3.7% during the third quarter. Harbour Investments Inc. now owns 4,215 shares of the construction company’s stock worth $1,257,000 after acquiring an additional 150 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Quanta Services by 8.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock worth $406,000 after acquiring an additional 106 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 4.5 %

Shares of NYSE PWR opened at $261.47 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a market capitalization of $38.75 billion, a price-to-earnings ratio of 43.36, a PEG ratio of 1.41 and a beta of 1.10. The stock has a 50 day moving average price of $295.49 and a 200 day moving average price of $304.13. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

PWR has been the topic of several analyst reports. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Finally, Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

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.