Quanta Services, Inc. (NYSE:PWR) Shares Bought by Saturna Capital Corp

Saturna Capital Corp raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,393 shares of the construction company’s stock after purchasing an additional 840 shares during the period. Saturna Capital Corp’s holdings in Quanta Services were worth $2,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Swedbank AB increased its holdings in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after acquiring an additional 42,579 shares in the last quarter. Assetmark Inc. increased its stake in shares of Quanta Services by 7.3% during the third quarter. Assetmark Inc. now owns 5,781 shares of the construction company’s stock worth $1,723,000 after purchasing an additional 392 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Quanta Services during the 3rd quarter worth about $96,000. Wolverine Asset Management LLC purchased a new position in Quanta Services in the 3rd quarter valued at about $1,193,000. Finally, Catalytic Wealth RIA LLC acquired a new stake in Quanta Services in the 3rd quarter worth about $219,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research analyst reports. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price for the company. Finally, Truist Financial decreased their price target on shares of 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 equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Performance

NYSE:PWR opened at $246.48 on Wednesday. The company has a market cap 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. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The company has a fifty day simple moving average of $299.51 and a two-hundred day simple moving average of $305.08.

Quanta Services (NYSE:PWR) last released its earnings results 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 analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts anticipate 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.