New York State Common Retirement Fund Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

New York State Common Retirement Fund trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 100,472 shares of the construction company’s stock after selling 4,118 shares during the period. New York State Common Retirement Fund’s holdings in Quanta Services were worth $31,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. increased its holdings 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 valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Quanta Services during the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services during the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services during the 3rd quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Down 3.8 %

Shares of PWR opened at $280.89 on Friday. The firm’s fifty day moving average is $317.38 and its two-hundred day moving average is $304.97. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market cap of $41.46 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Quanta Services, Inc. has a 52-week low of $206.58 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share 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%. Research analysts forecast that Quanta Services, Inc. will post 7.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PWR shares. Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus boosted their price target on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. BMO Capital Markets started coverage on shares of Quanta Services in a report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price target for the company. Finally, Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Company 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.