Longbow Finance SA Purchases Shares of 16,679 Quanta Services, Inc. $PWR

Longbow Finance SA purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, Holdings Channel reports. The fund purchased 16,679 shares of the construction company’s stock, valued at approximately $6,912,000.

Several other hedge funds also recently modified their holdings of the stock. Darwin Wealth Management LLC bought a new stake in Quanta Services during the second quarter worth about $26,000. Activest Wealth Management raised its stake in shares of 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. Solstein Capital LLC raised its stake in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Quanta Services by 213.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock valued at $30,000 after buying an additional 49 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Quanta Services during the second quarter worth $37,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PWR. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price target for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Sanford C. Bernstein dropped their target price on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a report on Friday, December 19th. Evercore boosted their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Roth Mkm set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Citigroup boosted their target price on Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Stock Down 1.5%

PWR stock opened at $516.16 on Friday. The company has a market cap of $76.97 billion, a PE ratio of 76.47, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $543.28. The business has a 50-day simple moving average of $455.57 and a 200 day simple moving average of $428.36.

Quanta Services Company 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.