Candriam S.C.A. Sells 37,046 Shares of Quanta Services, Inc. (NYSE:PWR)

Candriam S.C.A. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 48.3% during the 4th quarter, HoldingsChannel reports. The fund owned 39,609 shares of the construction company’s stock after selling 37,046 shares during the period. Candriam S.C.A.’s holdings in Quanta Services were worth $12,518,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the 4th quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter valued at $30,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent research reports. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Mkm began coverage on Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Finally, Citigroup reduced their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Up 2.0 %

PWR stock opened at $245.63 on Friday. The company has a market cap of $36.40 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The stock’s 50 day simple moving average is $302.72 and its 200 day simple moving average is $304.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

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