Modera Wealth Management LLC Purchases New Position in Quanta Services, Inc. (NYSE:PWR)

Modera Wealth Management LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 681 shares of the construction company’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. Geneos Wealth Management Inc. boosted its holdings in shares of Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 29 shares in the last quarter. Commonwealth Financial Services LLC raised its position in Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after purchasing an additional 29 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC raised its holdings in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $253.20 on Thursday. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company has a market cap of $37.52 billion, a PE ratio of 41.99, a P/E/G ratio of 1.41 and a beta of 1.05. The stock has a 50-day moving average of $306.07 and a 200-day moving average of $305.76. 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 (NYSE:PWR) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PWR shares. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. 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 price objective on the stock. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

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.