Kayne Anderson Capital Advisors LP Sells 2,072 Shares of Quanta Services, Inc. (NYSE:PWR)

Kayne Anderson Capital Advisors LP cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,277 shares of the construction company’s stock after selling 2,072 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Quanta Services were worth $5,144,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Versor Investments LP bought a new position in shares of Quanta Services during the third quarter valued at about $406,000. Kestra Private Wealth Services LLC grew its position in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Quanta Services by 5.6% in the 3rd 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 in the last quarter. Synovus Financial Corp raised its stake in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd boosted its holdings in 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. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the subject of several recent analyst reports. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Stifel Nicolaus dropped their price objective 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. Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Up 4.1 %

Shares of NYSE:PWR opened at $246.48 on Wednesday. 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 of $299.51 and a two-hundred day moving average of $305.08. The company has a market capitalization of $36.53 billion, a price-to-earnings ratio of 40.88, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88.

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. The firm 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 forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.