Laffer Tengler Investments Inc. Has $4.29 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Laffer Tengler Investments Inc. grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,577 shares of the construction company’s stock after purchasing an additional 1,791 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Quanta Services were worth $4,291,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Alkeon Capital Management LLC raised its position in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Quanta Services in the fourth quarter worth about $53,949,000. Union Bancaire Privee UBP SA acquired a new stake in Quanta Services in the fourth quarter worth about $46,364,000. Public Sector Pension Investment Board raised its holdings in Quanta Services by 81.7% during the 3rd 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 lifted its position in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR opened at $249.27 on Wednesday. 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, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The stock has a market capitalization of $36.94 billion, a P/E ratio of 41.34, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a 50 day moving average of $307.70 and a 200-day moving average of $305.88.

Quanta Services (NYSE:PWR) last released its earnings results 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 net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PWR. Citigroup dropped their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Truist Financial reduced their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus 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.