Quanta Services, Inc. (NYSE:PWR) Shares Bought by 1ST Source Bank

1ST Source Bank increased its position in Quanta Services, Inc. (NYSE:PWR) by 59.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,099 shares of the construction company’s stock after acquiring an additional 1,160 shares during the period. 1ST Source Bank’s holdings in Quanta Services were worth $979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB boosted its holdings in shares of Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Quanta Services by 8.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock worth $406,000 after buying an additional 106 shares during the last quarter. Huntington National Bank grew its holdings in Quanta Services by 2.9% in the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after buying an additional 35 shares during the period. KBC Group NV increased its stake in shares of Quanta Services by 13.4% during the 3rd quarter. KBC Group NV now owns 13,094 shares of the construction company’s stock valued at $3,904,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Quanta Services by 3.0% during the 3rd quarter. Metis Global Partners LLC now owns 5,871 shares of the construction company’s stock worth $1,750,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Up 4.5 %

Shares of Quanta Services stock opened at $261.47 on Monday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a market capitalization of $38.75 billion, a PE ratio of 43.36, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a 50-day moving average of $294.19 and a 200-day moving average of $304.56.

Quanta Services (NYSE:PWR) last issued 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 firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

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.