Edgestream Partners L.P. Acquires Shares of 14,786 Quanta Services, Inc. (NYSE:PWR)

Edgestream Partners L.P. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel reports. The firm acquired 14,786 shares of the construction company’s stock, valued at approximately $4,673,000.

A number of other institutional investors also recently bought and sold shares of PWR. Raymond James Financial Inc. acquired a new position in Quanta Services in the fourth quarter valued at $203,068,000. Alkeon Capital Management LLC increased its stake in Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the period. Proficio Capital Partners LLC acquired a new position in Quanta Services in the fourth quarter valued at $53,949,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $46,364,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of 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 valued at $83,210,000 after acquiring an additional 125,530 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 2.0 %

Shares of NYSE PWR opened at $245.63 on Friday. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month 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 company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm’s 50-day moving average is $302.72 and its two-hundred day moving average is $304.94.

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. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Six 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

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.