Nicola Wealth Management LTD. Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Nicola Wealth Management LTD. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the construction company’s stock after selling 1,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Quanta Services were worth $2,528,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its stake in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after acquiring an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after acquiring an additional 43,715 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Quanta Services by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after acquiring an additional 45,486 shares during the period. Finally, Swedbank AB raised its stake in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PWR. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Stifel Nicolaus reduced their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. Six investment 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Down 3.4 %

Shares of Quanta Services stock opened at $250.77 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. 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 $309.23 and its two-hundred day moving average is $306.00. The stock has a market cap of $37.16 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (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 for the quarter, compared to analysts’ expectations of $6.61 billion. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

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.