Thrivent Financial for Lutherans Increases Position in Quanta Services, Inc. (NYSE:PWR)

Thrivent Financial for Lutherans increased its position in Quanta Services, Inc. (NYSE:PWR) by 0.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 486,762 shares of the construction company’s stock after buying an additional 2,569 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Quanta Services were worth $153,868,000 at the end of the most recent reporting period.

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

Quanta Services Stock Up 2.6 %

Quanta Services stock opened at $267.54 on Tuesday. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The firm has a market cap of $39.65 billion, a price-to-earnings ratio of 44.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The business’s 50-day moving average price is $292.98 and its 200 day moving average price is $304.54. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PWR shares. Citigroup reduced their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Truist Financial cut their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Six 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’s 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.