Peregrine Asset Advisers Inc. Sells 62 Shares of Quanta Services, Inc. (NYSE:PWR)

Peregrine Asset Advisers Inc. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,866 shares of the construction company’s stock after selling 62 shares during the period. Quanta Services makes up about 1.9% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 16th largest position. Peregrine Asset Advisers Inc.’s holdings in Quanta Services were worth $5,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versor Investments LP bought a new stake in shares of Quanta Services during the 3rd quarter worth approximately $406,000. Kestra Private Wealth Services LLC increased its stake in Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd grew its holdings in shares of Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after purchasing an additional 2,557 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PWR shares. Truist Financial decreased their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Roth Mkm started coverage on Quanta Services in a research note on Friday. They set a “buy” rating and a $350.00 price target on the stock. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Quanta Services Trading Down 4.1 %

NYSE PWR opened at $269.75 on Friday. The firm has a market cap of $39.82 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 52 week low of $221.07 and a 52 week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $316.02 and a 200 day moving average price of $305.18.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services 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.