Callan Family Office LLC Takes $1.07 Million Position in Quanta Services, Inc. (NYSE:PWR)

Callan Family Office LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,372 shares of the construction company’s stock, valued at approximately $1,066,000.

Several other institutional investors also recently bought and sold shares of PWR. Webster Bank N. A. raised its stake in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the third quarter worth about $31,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services during the third quarter worth about $30,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 700.0% during the 4th 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 in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR opened at $245.63 on Friday. The firm has a market cap of $36.40 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average price is $301.17 and its 200 day moving average price is $305.05. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last posted 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. 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 analyst estimates of $6.61 billion. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Truist Financial reduced their price objective 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. Stifel Nicolaus dropped their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, 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 objective for the company. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $326.95.

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.