Quanta Services, Inc. (NYSE:PWR) Stock Position Decreased by Trillium Asset Management LLC

Trillium Asset Management LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,834 shares of the construction company’s stock after selling 10,025 shares during the period. Trillium Asset Management LLC owned 0.05% of Quanta Services worth $23,335,000 as of its most recent SEC filing.

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

Quanta Services Price Performance

Shares of NYSE:PWR opened at $263.35 on Wednesday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The firm has a market capitalization of $39.03 billion, a PE ratio of 43.67, a PEG ratio of 1.41 and a beta of 1.10. The business’s 50 day moving average is $291.85 and its 200-day moving average is $304.45. 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 announced its quarterly earnings data 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 company 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%. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PWR. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Truist Financial lowered 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. Stifel Nicolaus lowered 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. Finally, Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.