Tower View Wealth Management LLC Buys 63 Shares of Quanta Services, Inc. (NYSE:PWR)

Tower View Wealth Management LLC increased its stake in Quanta Services, Inc. (NYSE:PWR) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,742 shares of the construction company’s stock after acquiring an additional 63 shares during the quarter. Quanta Services accounts for approximately 2.8% of Tower View Wealth Management LLC’s portfolio, making the stock its 12th largest position. Tower View Wealth Management LLC’s holdings in Quanta Services were worth $5,291,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Finally, Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six investment 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 stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Price Performance

PWR opened at $259.32 on Friday. The firm has a market cap of $38.43 billion, a P/E ratio of 43.01, a PEG ratio of 1.41 and a beta of 1.05. The firm has a 50-day moving average of $309.23 and a 200 day moving average of $305.40. 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, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

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