Sandy Spring Bank Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

Sandy Spring Bank reduced its position in Quanta Services, Inc. (NYSE:PWR) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,218 shares of the construction company’s stock after selling 477 shares during the quarter. Sandy Spring Bank’s holdings in Quanta Services were worth $4,178,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Webster Bank N. A. boosted its position 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 acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth $27,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the third quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the third quarter valued at about $31,000. Finally, Sound Income Strategies LLC raised its holdings in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Finally, Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Price Performance

Shares of PWR opened at $271.32 on Friday. The company has a market capitalization of $40.21 billion, a P/E ratio of 45.00, a P/E/G ratio of 1.41 and a beta of 1.10. The business’s 50-day moving average is $290.21 and its two-hundred day moving average is $303.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly 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 return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.