M&T Bank Corp Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

M&T Bank Corp increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,490 shares of the construction company’s stock after acquiring an additional 906 shares during the quarter. M&T Bank Corp’s holdings in Quanta Services were worth $4,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Alkeon Capital Management LLC lifted its position in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares during the period. Proficio Capital Partners LLC bought a new stake in Quanta Services in the 4th quarter worth about $53,949,000. Union Bancaire Privee UBP SA purchased a new position in Quanta Services in the fourth quarter worth about $46,364,000. Public Sector Pension Investment Board boosted its position in Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the last quarter. Finally, State Street Corp boosted its position in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PWR shares. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus lowered their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $245.63 on Friday. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The company has a market capitalization of $36.40 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The stock’s fifty day moving average is $302.72 and its two-hundred day moving average is $304.94. 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 issued 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 return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services 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.