2,787 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Terra Alpha Investments LLC

Terra Alpha Investments LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,787 shares of the construction company’s stock, valued at approximately $881,000.

Several other hedge funds also recently made changes to their positions in PWR. State Street Corp boosted its position in shares of Quanta Services by 1.6% in the 3rd 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 during the period. Geode Capital Management LLC increased its holdings in shares of Quanta Services by 1.4% in the 3rd 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 boosted its stake in Quanta Services by 4.3% during the 3rd 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 worth $316,055,000 after purchasing an additional 43,715 shares during the period. Bank of New York Mellon Corp grew its position in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after purchasing an additional 45,486 shares during the last quarter. Finally, Swedbank AB increased its stake in 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 purchasing 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

A number of research firms have weighed in on PWR. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Truist Financial lowered their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

NYSE PWR opened at $261.47 on Monday. The company has a market capitalization 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. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The business’s 50-day moving average price is $294.19 and its 200 day moving average price is $304.56.

Quanta Services (NYSE:PWR) last announced 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 business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

About Quanta Services

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.