Picton Mahoney Asset Management Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

Picton Mahoney Asset Management decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 40,775 shares of the construction company’s stock after selling 4,932 shares during the period. Picton Mahoney Asset Management’s holdings in Quanta Services were worth $12,887,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB raised its holdings in shares of Quanta Services by 4.6% in the 3rd 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 in the last quarter. Assetmark Inc. raised its holdings in shares of Quanta Services by 7.3% in the 3rd quarter. Assetmark Inc. now owns 5,781 shares of the construction company’s stock valued at $1,723,000 after acquiring an additional 392 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Quanta Services in the 3rd quarter valued at about $406,000. Harbour Investments Inc. raised its holdings in shares of Quanta Services by 3.7% in the 3rd quarter. Harbour Investments Inc. now owns 4,215 shares of the construction company’s stock valued at $1,257,000 after acquiring an additional 150 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Quanta Services by 8.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock valued at $406,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Stifel Nicolaus lowered their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Six 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Price Performance

Shares of PWR stock opened at $261.47 on Friday. The firm has a market cap of $38.75 billion, a P/E ratio of 43.36, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The business’s 50 day moving average price is $295.49 and its 200-day moving average price is $304.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for 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%. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current 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.