Unified Investment Management Buys New Position in Quanta Services, Inc. (NYSE:PWR)

Unified Investment Management bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,054 shares of the construction company’s stock, valued at approximately $649,000.

Other hedge funds also recently added to or reduced their stakes in the company. Webster Bank N. A. increased its stake in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth $27,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the third quarter valued at $31,000. Finally, Sound Income Strategies LLC lifted its holdings in 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 buying an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PWR. JPMorgan Chase & Co. boosted 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. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Roth Mkm assumed 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. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Six equities 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 data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $259.32 on Monday. The company has a market cap of $38.43 billion, a P/E ratio of 43.01, a P/E/G ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The business’s 50 day moving average is $309.23 and its two-hundred day moving average is $306.00. 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 released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

About Quanta Services

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.