Axxcess Wealth Management LLC Purchases 3,057 Shares of Quanta Services, Inc. (NYSE:PWR)

Axxcess Wealth Management LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 164.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,915 shares of the construction company’s stock after acquiring an additional 3,057 shares during the period. Axxcess Wealth Management LLC’s holdings in Quanta Services were worth $1,553,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PWR. Webster Bank N. A. lifted its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the third quarter valued at about $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the third quarter worth about $30,000. Finally, Sound Income Strategies LLC lifted its stake in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PWR. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Citigroup cut their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. B. Riley restated a “neutral” rating and set a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday. Finally, Stifel Nicolaus dropped their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $270.90 on Thursday. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a market cap of $40.15 billion, a P/E ratio of 44.93, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $291.03 and a 200 day simple moving average of $304.22.

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 firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share 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.