ING Groep NV Sells 35,486 Shares of Quanta Services, Inc. (NYSE:PWR)

ING Groep NV reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 48.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,868 shares of the construction company’s stock after selling 35,486 shares during the quarter. ING Groep NV’s holdings in Quanta Services were worth $11,968,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Quanta Services during the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter valued at $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the third quarter valued at $30,000. Finally, Sound Income Strategies LLC grew its stake in shares of Quanta Services by 700.0% in 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 in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Down 3.8 %

PWR opened at $280.89 on Friday. Quanta Services, Inc. has a fifty-two week low of $206.58 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $41.46 billion, a P/E ratio of 51.82, a P/E/G ratio of 1.46 and a beta of 1.05. The stock has a fifty day moving average of $317.38 and a 200-day moving average of $304.97.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. On average, equities analysts expect that Quanta Services, Inc. will post 7.91 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price 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. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus raised their target price on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $330.50.

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.