Alphinity Investment Management Pty Ltd Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Alphinity Investment Management Pty Ltd lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.4% during the 4th quarter, Holdings Channel reports. The firm owned 13,079 shares of the construction company’s stock after selling 600 shares during the period. Alphinity Investment Management Pty Ltd’s holdings in Quanta Services were worth $4,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services during the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter worth about $31,000. Finally, Sound Income Strategies LLC boosted its holdings 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 purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 1.7 %

PWR stock opened at $268.86 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market capitalization of $39.84 billion, a PE ratio of 44.59, a P/E/G ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The company’s 50 day simple moving average is $311.89 and its 200-day simple moving average is $305.73.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PWR shares. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Robert W. Baird raised their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Citigroup dropped their price target 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. Six equities 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, Quanta Services has an average rating of “Moderate Buy” and an average price target of $326.95.

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.