Dana Investment Advisors Inc. Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Dana Investment Advisors Inc. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 16.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,353 shares of the construction company’s stock after selling 4,867 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Quanta Services were worth $8,013,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Swedbank AB increased its stake in shares of Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares during the period. Farther Finance Advisors LLC increased its position in Quanta Services by 12.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock valued at $324,000 after purchasing an additional 124 shares during the period. Van ECK Associates Corp increased its position in Quanta Services by 8,786.6% during the 3rd quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock valued at $9,183,000 after purchasing an additional 29,611 shares during the period. QRG Capital Management Inc. increased its position in Quanta Services by 15.0% during the 3rd quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock valued at $3,730,000 after purchasing an additional 1,636 shares during the period. Finally, PDS Planning Inc purchased a new position in Quanta Services during the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $253.20 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The company has a 50 day simple moving average of $306.07 and a two-hundred day simple moving average of $305.76. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.41 and a beta of 1.05.

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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. As a group, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

PWR has been the topic of a number of research reports. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus cut their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Roth Mkm assumed coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued 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 given a strong buy rating to the stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price 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.