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

SVB Wealth LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, HoldingsChannel reports. The firm acquired 1,023 shares of the construction company’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services during the 3rd quarter valued at about $31,000. Finally, Sound Income Strategies LLC lifted its holdings 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 worth $33,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 1.4 %

Shares of Quanta Services stock opened at $253.20 on Thursday. 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. The business has a 50-day moving average of $306.07 and a 200-day moving average of $305.76. The company 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 (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Finally, Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Six 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.