Jones Financial Companies Lllp Grows Position in Quanta Services, Inc. (NYSE:PWR)

Jones Financial Companies Lllp increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 190.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,499 shares of the construction company’s stock after buying an additional 8,853 shares during the period. Jones Financial Companies Lllp’s holdings in Quanta Services were worth $4,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. lifted 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 buying an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Quanta Services during the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services during the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services during the 3rd quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC lifted its position in shares of 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 buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PWR shares. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Truist Financial decreased 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. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Six equities 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Down 0.7 %

Shares of NYSE:PWR opened at $249.27 on Wednesday. The business has a 50-day moving average price of $307.70 and a 200 day moving average price of $305.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $36.94 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88.

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