Tower Wealth Partners Inc. Acquires 43 Shares of Quanta Services, Inc. (NYSE:PWR)

Tower Wealth Partners Inc. raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,165 shares of the construction company’s stock after buying an additional 43 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Quanta Services were worth $368,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PWR. Raymond James Financial Inc. bought a new position in Quanta Services in the fourth quarter worth about $203,068,000. Alkeon Capital Management LLC raised its position in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $53,949,000. Union Bancaire Privee UBP SA bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $46,364,000. Finally, Public Sector Pension Investment Board grew its stake in Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PWR shares. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Stifel Nicolaus dropped their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

Shares of PWR opened at $245.63 on Monday. 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, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The business has a 50-day simple moving average of $301.17 and a two-hundred day simple moving average of $305.31. The stock has a market cap of $36.40 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.41 and a beta of 1.10.

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

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.