SVB Wealth LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

SVB Wealth LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,023 shares of the construction company’s stock, valued at approximately $323,000.

Other large investors have also modified their holdings of the company. Versor Investments LP purchased a new stake in Quanta Services in the 3rd quarter valued at $406,000. Kestra Private Wealth Services LLC raised its holdings in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its position in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after acquiring an additional 2,557 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $253.20 on Thursday. The firm has a market capitalization of $37.52 billion, a PE ratio of 41.99, a P/E/G ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The firm’s 50-day simple moving average is $306.07 and its 200 day simple moving average is $305.76. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on PWR. Citigroup lowered their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.95.

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.