Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Cavalier Investments LLC

Cavalier Investments LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,348 shares of the construction company’s stock after purchasing an additional 48 shares during the quarter. Cavalier Investments LLC’s holdings in Quanta Services were worth $426,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PWR. Swedbank AB boosted its holdings in shares of Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Quanta Services by 10.9% during the third quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock worth $1,595,000 after purchasing an additional 526 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Quanta Services by 4.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,469 shares of the construction company’s stock worth $6,371,000 after purchasing an additional 957 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Quanta Services by 40.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,845 shares of the construction company’s stock worth $15,458,000 after purchasing an additional 14,983 shares during the last quarter. Finally, Orrstown Financial Services Inc. acquired a new stake in shares of Quanta Services during the third quarter worth $293,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Citigroup decreased their price objective 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 Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Mkm began coverage on Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus cut their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Up 1.9 %

Shares of NYSE PWR opened at $264.35 on Wednesday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.41 and a beta of 1.05. 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’s 50-day simple moving average is $312.93 and its 200-day simple moving average is $305.99.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $6.61 billion. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.