Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 164.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,915 shares of the construction company’s stock after acquiring an additional 3,057 shares during the period. Axxcess Wealth Management LLC’s holdings in Quanta Services were worth $1,553,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC raised its holdings in shares of Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the period. Synovus Financial Corp raised its holdings in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Quanta Services by 4.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after purchasing an additional 793 shares during the period. Finally, SeaBridge Investment Advisors LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth $1,754,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 2.9 %

NYSE PWR opened at $270.90 on Thursday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $40.15 billion, a PE ratio of 44.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The firm’s fifty day simple moving average is $291.03 and its 200-day simple moving average is $304.22.

Quanta Services (NYSE:PWR) last posted its quarterly 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%. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on PWR shares. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. B. Riley restated a “neutral” rating and set a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.79.

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.