Wealth Alliance Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Wealth Alliance cut its stake in Quanta Services, Inc. (NYSE:PWR) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,686 shares of the construction company’s stock after selling 85 shares during the quarter. Wealth Alliance’s holdings in Quanta Services were worth $533,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Webster Bank N. A. increased its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at $31,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% in the 4th 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 period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of a number of analyst reports. Daiwa Capital Markets began coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target on the stock. Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets began coverage on Quanta Services in a research note on Monday, February 3rd. They set an “outperform” rating and a $338.00 target price on the stock. Four 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 MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Stock Performance

Shares of PWR stock opened at $280.89 on Friday. The stock has a market cap of $41.46 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The business has a 50-day simple moving average of $317.38 and a 200-day simple moving average of $304.97. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52-week low of $206.58 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. On average, equities analysts expect that Quanta Services, Inc. will post 7.91 EPS for the current 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.