Twin Capital Management Inc. Has $4.05 Million Stock Position in Quanta Services, Inc. $PWR

Twin Capital Management Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 16.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,765 shares of the construction company’s stock after selling 1,912 shares during the quarter. Twin Capital Management Inc.’s holdings in Quanta Services were worth $4,047,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PWR. Activest Wealth Management raised its position in Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Copia Wealth Management raised its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services during the second quarter valued at $26,000. Cornerstone Planning Group LLC boosted its holdings in Quanta Services by 213.0% in the third quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock valued at $30,000 after acquiring an additional 49 shares during the last quarter. Finally, Solstein Capital LLC increased its position in Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Quanta Services in a research note on Friday, January 23rd. They issued an “overweight” rating and a $520.00 target price on the stock. Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Mizuho set a $415.00 target price on shares of Quanta Services in a research report on Tuesday, October 28th. Sanford C. Bernstein reduced their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Finally, Robert W. Baird set a $490.00 price objective on Quanta Services in a report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $462.00.

Quanta Services Price Performance

NYSE PWR opened at $507.87 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a market cap of $75.73 billion, a price-to-earnings ratio of 75.24, a PEG ratio of 2.31 and a beta of 1.15. The business has a 50 day simple moving average of $450.86 and a 200 day simple moving average of $425.33. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $508.45.

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.