Quanta Services, Inc. (NYSE:PWR) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 15,866 shares of the construction company’s stock after selling 62 shares during the period. Quanta Services accounts for 1.9% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 16th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Quanta Services were worth $5,014,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PWR. Webster Bank N. A. raised its position in Quanta Services by 4,050.0% during 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 stake in shares of Quanta Services in the fourth quarter worth $27,000. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the third quarter valued at $31,000. Finally, Sound Income Strategies LLC boosted its holdings in 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 purchasing an additional 91 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Quanta Services Trading Down 4.1 %

PWR stock opened at $269.75 on Friday. Quanta Services, Inc. has a 12-month low of $221.07 and a 12-month high of $365.88. The business’s 50-day moving average is $316.02 and its 200 day moving average is $305.18. 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 $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.61 billion. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

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.