Cookson Peirce & Co. Inc. Decreases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cookson Peirce & Co. Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 378,350 shares of the construction company’s stock after selling 26,884 shares during the quarter. Quanta Services makes up 5.4% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its largest position. Cookson Peirce & Co. Inc.’s holdings in Quanta Services were worth $119,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB grew its stake in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares in the last quarter. US Bancorp DE increased its holdings in shares of Quanta Services by 2.9% in the third quarter. US Bancorp DE now owns 15,914 shares of the construction company’s stock worth $4,745,000 after purchasing an additional 456 shares during the period. Farther Finance Advisors LLC raised its position in shares of Quanta Services by 12.9% in the third quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock worth $324,000 after buying an additional 124 shares in the last quarter. Van ECK Associates Corp boosted its stake in Quanta Services by 8,786.6% during the third quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock valued at $9,183,000 after buying an additional 29,611 shares during the period. Finally, QRG Capital Management Inc. grew its position in Quanta Services by 15.0% during the third quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock worth $3,730,000 after buying an additional 1,636 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. Stifel Nicolaus dropped their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Six 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Down 0.7 %

Shares of Quanta Services stock opened at $249.27 on Wednesday. The company’s 50 day moving average price is $307.70 and its 200-day moving average price is $305.88. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market capitalization of $36.94 billion, a price-to-earnings ratio of 41.34, a P/E/G ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm 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%. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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.