Tocqueville Asset Management L.P. Has $6.99 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Tocqueville Asset Management L.P. cut its position in Quanta Services, Inc. (NYSE:PWR) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,102 shares of the construction company’s stock after selling 501 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Quanta Services were worth $6,985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Private Wealth Services LLC grew its position in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. grew its position in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Synovus Financial Corp grew its position in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after purchasing an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new stake in Quanta Services in the 4th quarter worth $1,754,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR stock opened at $263.35 on Wednesday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm’s 50 day moving average is $291.85 and its 200-day moving average is $304.45. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.61 billion. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PWR shares. Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Stifel Nicolaus reduced their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

About Quanta Services

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.