1,235 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Patten & Patten Inc. TN

Patten & Patten Inc. TN purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,235 shares of the construction company’s stock, valued at approximately $390,000.

Other large investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its position in Quanta Services by 85.0% during the fourth 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. boosted its holdings in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of 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 purchasing an additional 1,830 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of 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 valued at $5,554,000 after purchasing an additional 793 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at $1,754,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR stock opened at $261.47 on Monday. The stock has a 50-day moving average price of $294.19 and a 200-day moving average price of $304.56. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The firm has a market cap of $38.75 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PWR. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus dropped their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.95.

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.