Farther Finance Advisors LLC Sells 108 Shares of Quanta Services, Inc. (NYSE:PWR)

Farther Finance Advisors LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 9.9% in the fourth quarter, HoldingsChannel reports. The fund owned 980 shares of the construction company’s stock after selling 108 shares during the quarter. Farther Finance Advisors LLC’s holdings in Quanta Services were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Swedbank AB grew its position in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Quanta Services by 8.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock valued at $406,000 after buying an additional 106 shares in the last quarter. KBC Group NV increased its holdings in Quanta Services by 13.4% in the 3rd quarter. KBC Group NV now owns 13,094 shares of the construction company’s stock worth $3,904,000 after acquiring an additional 1,547 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Quanta Services by 8.9% in the third quarter. CIBC Asset Management Inc now owns 21,412 shares of the construction company’s stock worth $6,384,000 after acquiring an additional 1,742 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Quanta Services by 7.4% in the 3rd quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock valued at $799,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PWR. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Citigroup dropped their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Up 2.6 %

Shares of NYSE PWR opened at $267.54 on Tuesday. The stock has a fifty day moving average price of $292.98 and a 200 day moving average price of $304.54. 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 cap of $39.65 billion, a P/E ratio of 44.37, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88.

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 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 during the quarter, compared to the consensus estimate of $6.61 billion. Research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

About Quanta Services

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.