Avantax Advisory Services Inc. Purchases 2,593 Shares of Quanta Services, Inc. (NYSE:PWR)

Avantax Advisory Services Inc. boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 20.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,006 shares of the construction company’s stock after acquiring an additional 2,593 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Quanta Services were worth $4,743,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its stake in Quanta Services by 4.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,630 shares of the construction company’s stock worth $1,779,000 after acquiring an additional 258 shares in the last quarter. Saturna Capital Corp raised its stake in Quanta Services by 11.1% during the fourth quarter. Saturna Capital Corp now owns 8,393 shares of the construction company’s stock worth $2,653,000 after acquiring an additional 840 shares in the last quarter. PFG Advisors raised its stake in Quanta Services by 1.5% during the fourth quarter. PFG Advisors now owns 6,098 shares of the construction company’s stock worth $1,927,000 after acquiring an additional 91 shares in the last quarter. HighTower Advisors LLC raised its stake in Quanta Services by 11.8% during the fourth quarter. HighTower Advisors LLC now owns 110,283 shares of the construction company’s stock worth $34,855,000 after acquiring an additional 11,659 shares in the last quarter. Finally, Natural Investments LLC acquired a new position in Quanta Services during the fourth quarter worth $216,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR opened at $261.47 on Friday. 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. The stock has a market cap of $38.75 billion, a P/E ratio of 43.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The stock’s 50-day moving average price is $295.49 and its two-hundred day moving average price is $304.13.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PWR shares. Stifel Nicolaus lowered their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus 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.