Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Cavalier Investments LLC

Cavalier Investments LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,348 shares of the construction company’s stock after purchasing an additional 48 shares during the quarter. Cavalier Investments LLC’s holdings in Quanta Services were worth $426,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Versor Investments LP acquired a new position in Quanta Services in the third quarter worth about $406,000. Kestra Private Wealth Services LLC grew its stake in Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Principal Financial Group Inc. grew its stake in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp grew its stake in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd grew its stake in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after purchasing an additional 2,557 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on PWR shares. Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $338.00 to $316.00 in a research note on Tuesday. Finally, Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $264.35 on Wednesday. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The stock has a market cap of $39.02 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.41 and a beta of 1.05. The stock’s 50 day moving average price is $312.93 and its 200 day moving average price is $305.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping 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. Equities research analysts anticipate 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.