Kentucky Retirement Systems Has $3.20 Million Position in Quanta Services, Inc. (NYSE:PWR)

Kentucky Retirement Systems cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,124 shares of the construction company’s stock after selling 140 shares during the quarter. Kentucky Retirement Systems’ holdings in Quanta Services were worth $3,200,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Swedbank AB raised its stake in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Quanta Services by 252.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,372 shares of the construction company’s stock worth $1,602,000 after purchasing an additional 3,849 shares during the last quarter. Eastern Bank acquired a new position in Quanta Services during the 3rd quarter worth $44,000. Commerzbank Aktiengesellschaft FI bought a new position in Quanta Services in the 3rd quarter valued at $265,000. Finally, Greenleaf Trust increased its stake in shares of Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after buying an additional 38 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $269.75 on Friday. The firm has a market cap of $39.82 billion, a P/E ratio of 49.77, a PEG ratio of 1.46 and a beta of 1.05. Quanta Services, Inc. has a twelve month low of $221.07 and a twelve month 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 firm’s 50 day moving average price is $316.02 and its two-hundred day moving average price is $305.18.

Quanta Services (NYSE:PWR) last posted 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. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. On average, analysts forecast that Quanta Services, Inc. will post 7.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PWR. Truist Financial decreased their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Quanta Services in a research note on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. 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 research note on Wednesday, January 22nd. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

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.