Saturna Capital Corp Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Saturna Capital Corp grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 11.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,393 shares of the construction company’s stock after purchasing an additional 840 shares during the period. Saturna Capital Corp’s holdings in Quanta Services were worth $2,653,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after buying an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after buying an additional 43,715 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after acquiring an additional 45,486 shares in the last quarter. Finally, Swedbank AB lifted its position in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 4.1 %

PWR opened at $246.48 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The stock 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 business has a 50 day simple moving average of $299.51 and a 200-day simple moving average of $305.08.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial lowered their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upped their price target 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services 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.