Atria Wealth Solutions Inc. Sells 3,297 Shares of Quanta Services, Inc. (NYSE:PWR)

Atria Wealth Solutions Inc. cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 21.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,928 shares of the construction company’s stock after selling 3,297 shares during the period. Atria Wealth Solutions Inc.’s holdings in Quanta Services were worth $3,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC purchased a new stake in Quanta Services during the 4th quarter worth about $27,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services during the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 3.8 %

Shares of PWR opened at $280.89 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $206.58 and a fifty-two week high of $365.88. The firm has a 50 day moving average price of $317.38 and a 200-day moving average price of $304.97. The firm has a market cap of $41.46 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 1.44 and a beta of 1.05.

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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. BMO Capital Markets assumed coverage on Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price objective on the stock. Northland Securities reissued an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $330.50.

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.