Maryland State Retirement & Pension System Has $2.45 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Maryland State Retirement & Pension System trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,756 shares of the construction company’s stock after selling 545 shares during the period. Maryland State Retirement & Pension System’s holdings in Quanta Services were worth $2,451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in Quanta Services during the 4th quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services during the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC increased its position 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 acquiring an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on PWR shares. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Truist Financial lowered their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus decreased their price objective 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. Roth Mkm began coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Finally, Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $271.32 on Friday. The company’s 50 day simple moving average is $290.21 and its 200 day simple moving average is $303.99. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 45.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

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.