Quanta Services, Inc. (NYSE:PWR) Position Boosted by Aspen Investment Management Inc

Aspen Investment Management Inc increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,654 shares of the construction company’s stock after purchasing an additional 60 shares during the quarter. Aspen Investment Management Inc’s holdings in Quanta Services were worth $523,000 at the end of the most recent quarter.

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

Quanta Services Stock Performance

PWR stock opened at $280.89 on Friday. The firm has a 50 day moving average of $317.38 and a two-hundred day moving average of $304.97. Quanta Services, Inc. has a 12 month low of $206.58 and a 12 month high of $365.88. The company has a market capitalization of $41.46 billion, a price-to-earnings ratio of 51.82, a P/E/G ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

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, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. BMO Capital Markets initiated coverage on shares of Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price target for the company. Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Truist Financial reduced their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

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.