Bessemer Group Inc. Sells 99,267 Shares of Quanta Services, Inc. $PWR

Bessemer Group Inc. reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,939 shares of the construction company’s stock after selling 99,267 shares during the period. Bessemer Group Inc. owned 0.21% of Quanta Services worth $131,760,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PWR. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Quanta Services by 252.8% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 23,094 shares of the construction company’s stock worth $9,571,000 after acquiring an additional 16,549 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Quanta Services by 37.9% during the third quarter. SBI Securities Co. Ltd. now owns 812 shares of the construction company’s stock valued at $337,000 after purchasing an additional 223 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in Quanta Services by 9.6% in the third quarter. J.W. Cole Advisors Inc. now owns 12,939 shares of the construction company’s stock worth $5,362,000 after purchasing an additional 1,134 shares during the period. Hantz Financial Services Inc. raised its holdings in Quanta Services by 262.5% in the third quarter. Hantz Financial Services Inc. now owns 20,842 shares of the construction company’s stock worth $8,637,000 after purchasing an additional 15,092 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in Quanta Services by 6.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,386 shares of the construction company’s stock valued at $989,000 after buying an additional 136 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PWR shares. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Cantor Fitzgerald started coverage on shares of Quanta Services in a research note on Friday, January 23rd. They set an “overweight” rating and a $520.00 target price for the company. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. Mizuho set a $415.00 price target on Quanta Services in a research note on Tuesday, October 28th. Finally, Evercore ISI lifted their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Stock Up 2.4%

PWR stock opened at $475.92 on Friday. The stock has a market capitalization of $70.97 billion, a P/E ratio of 70.51, a P/E/G ratio of 2.25 and a beta of 1.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $492.80. The business has a fifty day moving average price of $450.00 and a 200-day moving average price of $424.58.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.