Quanta Services, Inc. (NYSE:PWR) Shares Bought by Xponance Inc.

Xponance Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,752 shares of the construction company’s stock after acquiring an additional 972 shares during the quarter. Xponance Inc.’s holdings in Quanta Services were worth $7,823,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% in the fourth 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 bought a new stake in Quanta Services in the fourth quarter valued at about $27,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services in the third quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services in the third quarter valued at about $31,000. Finally, Sound Income Strategies LLC increased its holdings in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. Truist Financial lowered their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Finally, Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Performance

PWR opened at $270.90 on Thursday. The company has a market capitalization of $40.15 billion, a price-to-earnings ratio of 44.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. 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, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The business has a 50 day moving average price of $291.03 and a two-hundred day moving average price of $304.22.

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 firm 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%. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS 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.