SRN Advisors LLC Purchases New Holdings in Quanta Services, Inc. (NYSE:PWR)

SRN Advisors LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,919 shares of the construction company’s stock, valued at approximately $922,000.

Other institutional investors also recently modified their holdings of the company. Versor Investments LP acquired a new position in Quanta Services in the third quarter worth about $406,000. Kestra Private Wealth Services LLC raised its holdings in shares of 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 buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp boosted its stake in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd grew its position in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after acquiring an additional 2,557 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR stock opened at $268.86 on Thursday. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $39.84 billion, a P/E ratio of 44.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The business’s fifty day moving average is $311.89 and its 200-day moving average is $305.73.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PWR. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price target for the company from $338.00 to $316.00 in a report on Tuesday. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Company 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.