Quanta Services, Inc. (NYSE:PWR) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,582 shares of the construction company’s stock after selling 2,863 shares during the quarter. Moran Wealth Management LLC’s holdings in Quanta Services were worth $21,359,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its position in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC boosted its stake in Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after buying an additional 29 shares during the last quarter. HB Wealth Management LLC grew its holdings in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after buying an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in shares of Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC raised its holdings in shares of Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Citigroup reduced their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Six research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Up 2.0 %

PWR opened at $245.63 on Monday. The business has a fifty day moving average price of $301.17 and a 200 day moving average price of $305.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The stock has a market capitalization of $36.40 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Sell-side analysts expect 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.