Avantax Advisory Services Inc. Has $4.74 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Avantax Advisory Services Inc. grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 20.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,006 shares of the construction company’s stock after purchasing an additional 2,593 shares during the period. Avantax Advisory Services Inc.’s holdings in Quanta Services were worth $4,743,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the period. Geode Capital Management LLC increased its holdings in Quanta Services by 1.4% in 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Quanta Services by 4.3% in the third 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 buying an additional 43,715 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Quanta Services by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after buying an additional 45,486 shares during the last quarter. Finally, Swedbank AB increased its holdings in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after buying an additional 42,579 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PWR shares. Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Up 4.5 %

PWR opened at $261.47 on Friday. The stock has a market capitalization of $38.75 billion, a price-to-earnings ratio of 43.36, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The business has a 50 day moving average of $295.49 and a 200-day moving average of $304.13. 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 (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during 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%. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share 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.