Gryphon Financial Partners LLC Cuts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Gryphon Financial Partners LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 950 shares of the construction company’s stock after selling 54 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Quanta Services were worth $300,000 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 the company. Versor Investments LP acquired a new position in shares of Quanta Services during the third quarter worth $406,000. Kestra Private Wealth Services LLC increased its position in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. raised its stake in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd grew its stake in shares of Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after acquiring an additional 2,557 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 3.4 %

PWR stock opened at $250.77 on Tuesday. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The firm has a market cap of $37.16 billion, a PE ratio of 41.59, a PEG ratio of 1.41 and a beta of 1.05. The firm’s 50 day moving average price is $309.23 and its 200-day moving average price is $306.00. 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 (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analyst Ratings Changes

PWR has been the subject of a number of research analyst reports. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Truist Financial dropped 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. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Six investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

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.