Quanta Services, Inc. (NYSE:PWR) Shares Purchased by US Bancorp DE

US Bancorp DE raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,917 shares of the construction company’s stock after acquiring an additional 2,003 shares during the quarter. US Bancorp DE’s holdings in Quanta Services were worth $5,663,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PWR. Swedbank AB boosted its position in Quanta Services by 4.6% during the 3rd 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 period. Farther Finance Advisors LLC lifted its stake in shares of Quanta Services by 12.9% during the third quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock worth $324,000 after purchasing an additional 124 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Quanta Services by 8,786.6% in the third quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock worth $9,183,000 after buying an additional 29,611 shares during the period. QRG Capital Management Inc. grew its stake in shares of Quanta Services by 15.0% in the third quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock valued at $3,730,000 after buying an additional 1,636 shares in the last quarter. Finally, PDS Planning Inc purchased a new stake in shares of Quanta Services during the 3rd quarter valued at about $222,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PWR. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Bank of America initiated coverage on shares of 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, Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Down 0.7 %

PWR stock opened at $249.27 on Wednesday. The firm has a market cap of $36.94 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The firm has a fifty day moving average price of $307.70 and a two-hundred day moving average price of $305.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

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.