Glenview Trust co Purchases 1,686 Shares of Quanta Services, Inc. (NYSE:PWR)

Glenview Trust co grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 43.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,552 shares of the construction company’s stock after acquiring an additional 1,686 shares during the quarter. Glenview Trust co’s holdings in Quanta Services were worth $1,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in shares of Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the period. Geode Capital Management LLC grew its position in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after buying an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after acquiring an additional 43,715 shares during the period. Bank of New York Mellon Corp raised its holdings in Quanta Services by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after acquiring an additional 45,486 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PWR shares. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Price Performance

Shares of NYSE PWR opened at $261.47 on Monday. The firm has a market capitalization of $38.75 billion, a P/E ratio of 43.36, a P/E/G ratio of 1.41 and a beta of 1.10. The firm’s 50-day moving average price is $294.19 and its 200-day moving average price is $304.56. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. 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 results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 18.00% and a net margin of 3.82%. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share 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.