Edgestream Partners L.P. Invests $4.67 Million in Quanta Services, Inc. (NYSE:PWR)

Edgestream Partners L.P. bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,786 shares of the construction company’s stock, valued at approximately $4,673,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Webster Bank N. A. grew its stake in Quanta Services by 4,050.0% during 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 in the last quarter. Sierra Ocean LLC purchased a new stake in Quanta Services during the 4th quarter valued at about $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the 3rd quarter valued at about $31,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 700.0% during 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 in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.0 %

NYSE PWR opened at $245.63 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm’s fifty day moving average price is $302.72 and its 200 day moving average price is $304.94. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth 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.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PWR. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Citigroup decreased their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.