Family Firm Inc. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Family Firm Inc. purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 655 shares of the construction company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Webster Bank N. A. raised its holdings 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 purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Quanta Services in the 4th quarter valued at about $27,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $261.47 on Friday. The company has a 50 day moving average of $294.19 and a 200 day moving average of $304.30. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market cap of $38.75 billion, a P/E ratio of 43.36, a P/E/G 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.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 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 during the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup cut their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial reduced 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 report on Thursday, January 16th. Stifel Nicolaus lowered 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. Roth Mkm started coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Bank of America initiated 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. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.