Quanta Services, Inc. (NYSE:PWR) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,365 shares of the construction company’s stock after selling 138 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Quanta Services were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB lifted its holdings in shares of 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 acquiring an additional 42,579 shares during the period. Assenagon Asset Management S.A. raised its stake in Quanta Services by 10.9% during the third quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock worth $1,595,000 after purchasing an additional 526 shares during the period. abrdn plc boosted its holdings in shares of Quanta Services by 2.4% in the 3rd quarter. abrdn plc now owns 87,803 shares of the construction company’s stock valued at $26,103,000 after purchasing an additional 2,080 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Quanta Services by 19.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,246 shares of the construction company’s stock valued at $1,564,000 after buying an additional 870 shares during the period. Finally, Financial Advocates Investment Management increased its holdings in shares of Quanta Services by 12.5% during the 3rd quarter. Financial Advocates Investment Management now owns 6,953 shares of the construction company’s stock worth $2,073,000 after buying an additional 771 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PWR shares. JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $338.00 to $316.00 in a research note on Tuesday. Citigroup cut their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Six investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Price Performance

PWR stock opened at $258.83 on Friday. The company has a market capitalization of $38.36 billion, a PE ratio of 42.92, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $310.62 and its two-hundred day moving average is $305.40. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88.

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