Hickory Point Bank & Trust Acquires New Position in Quanta Services, Inc. (NYSE:PWR)

Hickory Point Bank & Trust bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,483 shares of the construction company’s stock, valued at approximately $469,000.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. Webster Bank N. A. boosted its position in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the third quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC boosted its position in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.0 %

PWR opened at $259.32 on Friday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a market cap of $38.43 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a fifty day moving average price of $309.23 and a two-hundred day moving average price of $305.40.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during 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%. Analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Citigroup cut their price target 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. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.