Wharton Business Group LLC Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

Wharton Business Group LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,655 shares of the construction company’s stock after selling 865 shares during the quarter. Wharton Business Group LLC’s holdings in Quanta Services were worth $17,274,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Versor Investments LP purchased a new position in shares of Quanta Services during the 3rd quarter worth $406,000. Kestra Private Wealth Services LLC grew its holdings in shares of Quanta Services by 85.0% during the 4th 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 during the period. Principal Financial Group Inc. grew its holdings in shares of Quanta Services by 5.6% during the 3rd 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 during the period. Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% during the 3rd 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 during the period. Finally, Waverton Investment Management Ltd grew its holdings in shares of Quanta Services by 6.5% during the 3rd 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 during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Roth Mkm started coverage on Quanta Services in a research report on Friday. They set a “buy” rating and a $350.00 price objective on the stock. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday. Finally, Stifel Nicolaus increased their price objective on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $331.53.

Quanta Services Stock Down 4.1 %

Quanta Services stock opened at $269.75 on Monday. The stock has a 50 day moving average of $316.02 and a two-hundred day moving average of $305.98. Quanta Services, Inc. has a twelve month low of $221.07 and a twelve month high of $365.88. The stock has a market capitalization of $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share 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 during the quarter, compared to the consensus estimate of $6.61 billion. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current 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.