Quanta Services, Inc. (NYSE:PWR) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,787 shares of the construction company’s stock after selling 1,489 shares during the quarter. Marco Investment Management LLC’s holdings in Quanta Services were worth $4,989,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PWR. Swedbank AB lifted its holdings in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after buying an additional 42,579 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Quanta Services by 12.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock valued at $324,000 after purchasing an additional 124 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Quanta Services by 8,786.6% in the 3rd quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock valued at $9,183,000 after purchasing an additional 29,611 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Quanta Services by 15.0% in the 3rd quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock valued at $3,730,000 after purchasing an additional 1,636 shares in the last quarter. Finally, Catalina Capital Group LLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at $270,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of analyst reports. Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. JPMorgan Chase & Co. increased their target price 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. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Trading Down 5.0 %

Shares of Quanta Services stock opened at $240.61 on Friday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market capitalization of $35.66 billion, a P/E ratio of 39.90, a PEG ratio of 1.41 and a beta of 1.05. The company’s fifty day moving average is $304.52 and its two-hundred day moving average is $305.39.

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

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.