Reaves W H & Co. Inc. Lowers Stock Position in Quanta Services, Inc. (NYSE:PWR)

Reaves W H & Co. Inc. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 256,478 shares of the construction company’s stock after selling 1,133 shares during the period. Quanta Services accounts for approximately 2.1% of Reaves W H & Co. Inc.’s holdings, making the stock its 22nd biggest holding. Reaves W H & Co. Inc. owned approximately 0.17% of Quanta Services worth $81,060,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PWR. Alkeon Capital Management LLC grew its stake in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at $53,949,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Quanta Services during the 4th quarter valued at $46,364,000. Public Sector Pension Investment Board grew its stake in shares of Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after buying an additional 125,530 shares during the period. Finally, State Street Corp grew its stake in shares of Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup decreased their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. 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 raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, 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. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $250.77 on Tuesday. The firm has a market cap of $37.16 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The firm’s 50-day simple moving average is $309.23 and its 200-day simple moving average is $306.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

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.