Quanta Services, Inc. (NYSE:PWR) Shares Sold by ING Groep NV

ING Groep NV cut its position in Quanta Services, Inc. (NYSE:PWR) by 48.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,868 shares of the construction company’s stock after selling 35,486 shares during the quarter. ING Groep NV’s holdings in Quanta Services were worth $11,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PWR. Webster Bank N. A. lifted its position in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC increased its position 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 worth $33,000 after acquiring an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $280.89 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $41.46 billion, a P/E ratio of 51.82, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The company’s 50 day moving average price is $317.38 and its two-hundred day moving average price is $304.97. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88.

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 net margin of 3.54% and a return on equity of 16.71%. On average, analysts expect that Quanta Services, Inc. will post 7.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets started coverage on shares of Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Four 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $330.50.

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.