Crestwood Advisors Group LLC Decreases Position in Quanta Services, Inc. (NYSE:PWR)

Crestwood Advisors Group LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,973 shares of the construction company’s stock after selling 598 shares during the period. Crestwood Advisors Group LLC owned approximately 0.07% of Quanta Services worth $33,177,000 at the end of the most recent reporting period.

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

Quanta Services Stock Performance

Shares of PWR stock opened at $269.75 on Monday. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. The company’s 50 day moving average is $316.02 and its 200 day moving average is $305.98. 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, Inc. has a 52-week low of $221.07 and a 52-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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on shares of Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price objective on the stock. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Truist Financial reduced their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Finally, Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $331.53.

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.