Centricity Wealth Management LLC Acquires New Holdings in Quanta Services, Inc. (NYSE:PWR)

Centricity Wealth Management LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, HoldingsChannel.com reports. The firm bought 109 shares of the construction company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Webster Bank N. A. raised its position in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in Quanta Services in the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the third quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at about $31,000. Finally, Sound Income Strategies LLC raised its stake in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several recent analyst reports. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective 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. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial decreased their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.53.

Quanta Services Trading Down 4.1 %

Shares of NYSE:PWR opened at $269.75 on Friday. The company has a market capitalization of $39.82 billion, a PE ratio of 49.77, a PEG ratio of 1.46 and a beta of 1.05. Quanta Services, Inc. has a 12-month low of $221.07 and a 12-month high of $365.88. The business has a 50 day moving average of $316.02 and a two-hundred day moving average of $305.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. As a group, analysts forecast that Quanta Services, Inc. will post 7.91 EPS 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.