Navellier & Associates Inc. Sells 5,253 Shares of Quanta Services, Inc. $PWR

Navellier & Associates Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,764 shares of the construction company’s stock after selling 5,253 shares during the quarter. Quanta Services accounts for about 2.0% of Navellier & Associates Inc.’s investment portfolio, making the stock its 4th biggest holding. Navellier & Associates Inc.’s holdings in Quanta Services were worth $19,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management increased its holdings in Quanta Services by 94.1% during 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 in the last quarter. Copia Wealth Management lifted its holdings in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services during the second quarter worth about $26,000. Cornerstone Planning Group LLC grew its holdings in shares of Quanta Services by 213.0% during the third quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock worth $30,000 after buying an additional 49 shares in the last quarter. Finally, Solstein Capital LLC raised its position in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR opened at $514.46 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The firm has a 50-day moving average of $452.10 and a 200-day moving average of $426.45. The company has a market cap of $76.72 billion, a PE ratio of 76.22, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $520.42.

Analysts Set New Price Targets

PWR has been the subject of a number of recent research reports. Robert W. Baird set a $490.00 price target on Quanta Services in a research report on Friday, October 31st. Mizuho set a $415.00 target price on shares of Quanta Services in a report on Tuesday, October 28th. Evercore raised their target price on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Citigroup boosted their price target on shares of Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Jefferies Financial Group reduced their price objective on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $462.00.

Quanta Services Profile

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.