First Business Financial Services Inc. Purchases 1,048 Shares of Quanta Services, Inc. (NYSE:PWR)

First Business Financial Services Inc. lifted its position in Quanta Services, Inc. (NYSE:PWR) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,794 shares of the construction company’s stock after buying an additional 1,048 shares during the quarter. Quanta Services comprises 0.4% of First Business Financial Services Inc.’s investment portfolio, making the stock its 25th largest holding. First Business Financial Services Inc.’s holdings in Quanta Services were worth $4,044,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Versor Investments LP bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $406,000. Kestra Private Wealth Services LLC boosted its position in Quanta Services by 85.0% during the fourth 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. boosted its position in Quanta Services by 5.6% during the third 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 boosted its position in Quanta Services by 34.0% during the third 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 boosted its position in Quanta Services by 6.5% during the third 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. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PWR. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus cut their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Citigroup cut their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $253.20 on Thursday. 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 business has a fifty day simple moving average of $306.07 and a 200 day simple moving average of $305.76. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its 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. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

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.