Kayne Anderson Capital Advisors LP Sells 2,072 Shares of Quanta Services, Inc. (NYSE:PWR)

Kayne Anderson Capital Advisors LP cut its stake in Quanta Services, Inc. (NYSE:PWR) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,277 shares of the construction company’s stock after selling 2,072 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Quanta Services were worth $5,144,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Webster Bank N. A. grew its position in shares of 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 period. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the third quarter worth $31,000. Finally, Sound Income Strategies LLC grew its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Price Performance

NYSE:PWR opened at $246.48 on Wednesday. The business’s 50-day moving average is $299.51 and its 200 day moving average is $305.08. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The company has a market capitalization of $36.53 billion, a P/E ratio of 40.88, a P/E/G ratio of 1.41 and a beta of 1.10. 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 announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, equities research analysts forecast 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.