Private Advisor Group LLC Has $3.09 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Private Advisor Group LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,774 shares of the construction company’s stock after acquiring an additional 187 shares during the period. Private Advisor Group LLC’s holdings in Quanta Services were worth $3,089,000 as of its most recent SEC filing.

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

Quanta Services Stock Down 3.6 %

PWR opened at $259.79 on Tuesday. The company’s 50-day moving average price is $314.37 and its two-hundred day moving average price is $305.96. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The stock has a market cap of $38.35 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial reduced their price objective 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. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus decreased their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $328.11.

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.