Bank OZK Grows Stake in Quanta Services, Inc. (NYSE:PWR)

Bank OZK increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,122 shares of the construction company’s stock after buying an additional 235 shares during the quarter. Quanta Services comprises approximately 1.3% of Bank OZK’s investment portfolio, making the stock its 18th biggest holding. Bank OZK’s holdings in Quanta Services were worth $3,199,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Webster Bank N. A. grew its holdings in shares of Quanta Services by 4,050.0% during 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 last quarter. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the fourth quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the third quarter valued at $31,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the third quarter valued at $30,000. Finally, Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% during 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 period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PWR. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $338.00 to $316.00 in a research report on Tuesday. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 target price for the company. 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 report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Up 0.0 %

PWR opened at $259.32 on Friday. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month 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 company has a 50-day moving average price of $310.62 and a 200 day moving average price of $305.40. The company has a market cap of $38.43 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last released 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 net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.