Wealth Alliance Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Wealth Alliance reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,686 shares of the construction company’s stock after selling 85 shares during the period. Wealth Alliance’s holdings in Quanta Services were worth $533,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PWR. Alkeon Capital Management LLC increased its stake in 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 buying an additional 250,000 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Quanta Services during the 4th quarter worth approximately $46,364,000. International Assets Investment Management LLC increased its stake in Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after buying an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board increased its stake in 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 worth $83,210,000 after buying an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. purchased a new stake in Quanta Services during the 3rd quarter worth approximately $27,430,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 3.8 %

NYSE:PWR opened at $280.89 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $317.38 and its two-hundred day moving average is $304.97. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88. The stock has a market capitalization of $41.46 billion, a price-to-earnings ratio of 51.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Research analysts anticipate that Quanta Services, Inc. will post 7.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PWR shares. Citigroup cut their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial dropped their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus upped their price target on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Northland Securities restated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, BMO Capital Markets initiated coverage on Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price target for the company. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.50.

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.