Rakuten Securities Inc. Purchases 113 Shares of Quanta Services, Inc. (NYSE:PWR)

Rakuten Securities Inc. increased its position in Quanta Services, Inc. (NYSE:PWR) by 1,027.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124 shares of the construction company’s stock after purchasing an additional 113 shares during the quarter. Rakuten Securities Inc.’s holdings in Quanta Services were worth $39,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Swedbank AB lifted its position in 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 purchasing an additional 42,579 shares during the period. Assetmark Inc. raised its stake in Quanta Services by 7.3% during the third quarter. Assetmark Inc. now owns 5,781 shares of the construction company’s stock worth $1,723,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Quanta Services during the third quarter worth $96,000. Wolverine Asset Management LLC acquired a new position in Quanta Services during the third quarter worth $1,193,000. Finally, Versor Investments LP acquired a new position in Quanta Services during the third quarter worth $406,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $249.47 on Thursday. The business’s 50-day simple moving average is $298.12 and its 200 day simple moving average is $304.89. The stock has a market cap of $36.97 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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 return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PWR. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Finally, Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Six investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $326.95.

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.