Quanta Services, Inc. (NYSE:PWR) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,048 shares of the construction company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Quanta Services were worth $12,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares during the period. Farther Finance Advisors LLC raised its position in Quanta Services by 12.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock worth $324,000 after buying an additional 124 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Quanta Services by 8,786.6% in the 3rd quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock worth $9,183,000 after acquiring an additional 29,611 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Quanta Services by 15.0% in the third quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock valued at $3,730,000 after acquiring an additional 1,636 shares in the last quarter. Finally, PDS Planning Inc acquired a new position in shares of Quanta Services during the third quarter worth about $222,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the subject of a number of recent analyst reports. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Stifel Nicolaus reduced their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. 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. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Six 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Trading Up 1.4 %

Shares of Quanta Services stock opened at $253.20 on Thursday. The business has a 50 day moving average price of $306.07 and a 200 day moving average price of $305.76. The company has a market capitalization of $37.52 billion, a P/E ratio of 41.99, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year 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, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion for 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 anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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.