Mutual of America Capital Management LLC Sells 737 Shares of Quanta Services, Inc. (NYSE:PWR)

Mutual of America Capital Management LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,747 shares of the construction company’s stock after selling 737 shares during the period. Mutual of America Capital Management LLC’s holdings in Quanta Services were worth $6,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new stake in Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PWR has been the topic of a number of research analyst reports. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Citigroup cut their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Truist Financial cut their target price 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. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Trading Down 3.4 %

Shares of PWR stock opened at $250.77 on Tuesday. The company’s fifty day simple moving average is $309.23 and its two-hundred day simple moving average is $306.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The stock has a market capitalization of $37.16 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 1.41 and a beta of 1.05.

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, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.