PNC Financial Services Group Inc. Sells 1,896 Shares of Quanta Services, Inc. (NYSE:PWR)

PNC Financial Services Group Inc. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 603,886 shares of the construction company’s stock after selling 1,896 shares during the quarter. PNC Financial Services Group Inc. owned about 0.41% of Quanta Services worth $190,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Webster Bank N. A. grew 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 buying an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services during the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PWR shares. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Six investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Performance

PWR stock opened at $245.63 on Friday. The company has a 50 day moving average price of $301.17 and a 200 day moving average price of $305.05. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The stock has a market capitalization of $36.40 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

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

Quanta Services 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.