Westover Capital Advisors LLC Sells 203 Shares of Quanta Services, Inc. (NYSE:PWR)

Westover Capital Advisors LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 5,398 shares of the construction company’s stock after selling 203 shares during the quarter. Westover Capital Advisors LLC’s holdings in Quanta Services were worth $1,706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versor Investments LP bought a new position in Quanta Services during the 3rd quarter worth approximately $406,000. Kestra Private Wealth Services LLC boosted its stake in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after acquiring an additional 2,184 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares during the last quarter. Synovus Financial Corp lifted its stake in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd lifted its stake in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price target 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. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus cut their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price target for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Price Performance

Shares of PWR opened at $250.77 on Tuesday. The company has a market cap of $37.16 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company’s fifty day simple moving average is $309.23 and its 200 day simple moving average is $306.00. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued 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 business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share 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.