South Street Advisors LLC Sells 1,391 Shares of Quanta Services, Inc. (NYSE:PWR)

South Street Advisors LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,379 shares of the construction company’s stock after selling 1,391 shares during the quarter. Quanta Services comprises approximately 3.4% of South Street Advisors LLC’s portfolio, making the stock its 11th biggest holding. South Street Advisors LLC’s holdings in Quanta Services were worth $21,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB grew its position in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Quanta Services by 8.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock valued at $406,000 after purchasing an additional 106 shares in the last quarter. KBC Group NV grew its position in shares of Quanta Services by 13.4% during the 3rd quarter. KBC Group NV now owns 13,094 shares of the construction company’s stock valued at $3,904,000 after purchasing an additional 1,547 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Quanta Services by 8.9% during the 3rd quarter. CIBC Asset Management Inc now owns 21,412 shares of the construction company’s stock valued at $6,384,000 after purchasing an additional 1,742 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Quanta Services by 7.4% during the 3rd quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock valued at $799,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.6 %

NYSE:PWR opened at $267.54 on Tuesday. The company’s 50 day moving average price is $292.98 and its 200-day moving average price is $304.54. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $39.65 billion, a price-to-earnings ratio of 44.37, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PWR has been the subject of a number of recent analyst reports. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Citigroup decreased 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. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services 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.