Victory Capital Management Inc. Purchases 37,354 Shares of Quanta Services, Inc. (NYSE:PWR)

Victory Capital Management Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 11.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,740 shares of the construction company’s stock after purchasing an additional 37,354 shares during the quarter. Victory Capital Management Inc.’s holdings in Quanta Services were worth $118,753,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in shares of 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 acquiring an additional 89,975 shares during the period. Geode Capital Management LLC lifted its position in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after acquiring an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after acquiring an additional 43,715 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after acquiring an additional 45,486 shares during the period. Finally, Swedbank AB lifted its position in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 1.4 %

Shares of PWR stock opened at $253.20 on Thursday. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.41 and a beta of 1.05. The stock has a 50-day moving average of $306.07 and a 200-day moving average of $305.76. 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, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Citigroup lowered their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $326.95.

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.