Modera Wealth Management LLC Purchases Shares of 681 Quanta Services, Inc. (NYSE:PWR)

Modera Wealth Management LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 681 shares of the construction company’s stock, valued at approximately $215,000.

A number of other large investors also recently modified their holdings of PWR. SRS Capital Advisors Inc. lifted its stake in Quanta Services by 2,773.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,983 shares of the construction company’s stock valued at $627,000 after acquiring an additional 1,914 shares in the last quarter. Bailard Inc. raised its holdings in shares of Quanta Services by 1.7% in the fourth quarter. Bailard Inc. now owns 3,520 shares of the construction company’s stock valued at $1,113,000 after purchasing an additional 60 shares during the last quarter. Norden Group LLC lifted its position in shares of Quanta Services by 15.5% during the fourth quarter. Norden Group LLC now owns 3,443 shares of the construction company’s stock valued at $1,088,000 after purchasing an additional 462 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Quanta Services by 41.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,485 shares of the construction company’s stock worth $474,000 after purchasing an additional 437 shares during the last quarter. Finally, Hickory Point Bank & Trust bought a new stake in Quanta Services in the 4th quarter worth about $469,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $253.20 on Thursday. The business’s fifty day moving average is $306.07 and its 200 day moving average is $305.76. The firm 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. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Finally, Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

About Quanta Services

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.