Victory Capital Management Inc. Purchases 37,354 Shares of Quanta Services, Inc. (NYSE:PWR)

Victory Capital Management Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 375,740 shares of the construction company’s stock after acquiring an additional 37,354 shares during the period. Victory Capital Management Inc. owned 0.25% of Quanta Services worth $118,753,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Webster Bank N. A. boosted its holdings in Quanta Services by 4,050.0% in the fourth 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 last quarter. Sierra Ocean LLC bought a new position in Quanta Services during the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the third quarter worth about $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services during the third quarter worth about $31,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 1.4 %

NYSE:PWR opened at $253.20 on Thursday. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 41.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The stock’s 50 day moving average price is $306.07 and its two-hundred day moving average price is $305.76. 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 for the quarter, topping the consensus estimate of $2.62 by $0.12. The firm 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 expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent analyst reports. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Truist Financial reduced their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Citigroup reduced their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Stifel Nicolaus cut their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

About Quanta Services

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.