Tower Wealth Partners Inc. Grows Stake in Quanta Services, Inc. (NYSE:PWR)

Tower Wealth Partners Inc. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,165 shares of the construction company’s stock after purchasing an additional 43 shares during the period. Tower Wealth Partners Inc.’s holdings in Quanta Services were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PWR. Webster Bank N. A. increased its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter worth $27,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the third quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the third quarter valued at $31,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Quanta Services by 700.0% in 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 last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 2.0 %

Shares of NYSE PWR opened at $245.63 on Monday. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The stock’s fifty day simple moving average is $301.17 and its two-hundred day simple moving average is $305.31. The stock 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 current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its 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 analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PWR. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Stifel Nicolaus cut their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services has an average 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.