South Street Advisors LLC Sells 1,391 Shares of Quanta Services, Inc. (NYSE:PWR)

South Street Advisors LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,379 shares of the construction company’s stock after selling 1,391 shares during the period. Quanta Services accounts for 3.4% of South Street Advisors LLC’s portfolio, making the stock its 11th largest holding. South Street Advisors LLC’s holdings in Quanta Services were worth $21,927,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Webster Bank N. A. raised its position in shares of 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 purchasing an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in shares of Quanta Services during the 4th quarter valued at $27,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services during the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the 3rd quarter valued at $30,000. Finally, Sound Income Strategies LLC increased its holdings in 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 last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

PWR stock opened at $267.54 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $292.98 and its two-hundred day simple moving average is $304.54. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The firm has a market cap of $39.65 billion, a price-to-earnings ratio of 44.37, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its 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 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on PWR shares. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Citigroup lowered their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Six research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services 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.