Royal Harbor Partners LLC Makes New $509,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Royal Harbor Partners LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,609 shares of the construction company’s stock, valued at approximately $509,000.

Several other institutional investors also recently bought and sold shares of the business. Swedbank AB boosted its stake in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Quanta Services by 12.9% in the third quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock valued at $324,000 after purchasing an additional 124 shares during the period. Van ECK Associates Corp boosted its stake in shares of Quanta Services by 8,786.6% in the third quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock valued at $9,183,000 after purchasing an additional 29,611 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Quanta Services by 15.0% in the third quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock valued at $3,730,000 after purchasing an additional 1,636 shares during the period. Finally, PDS Planning Inc bought a new position in Quanta Services during the 3rd quarter valued at $222,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PWR. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial lowered their price objective 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 investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Up 1.4 %

Shares of NYSE:PWR opened at $253.20 on Thursday. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The company’s 50-day moving average price is $306.07 and its two-hundred day moving average price is $305.76. 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 firm has a market cap of $37.52 billion, a P/E ratio of 41.99, a P/E/G ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last announced 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 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%. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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.