Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 5,630 shares of the construction company’s stock after purchasing an additional 258 shares during the period. Sequoia Financial Advisors LLC’s holdings in Quanta Services were worth $1,779,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PWR. Raymond James Financial Inc. acquired a new position in Quanta Services in the 4th quarter valued at about $203,068,000. Alkeon Capital Management LLC raised its stake in Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Quanta Services in the 4th quarter valued at about $53,949,000. Union Bancaire Privee UBP SA acquired a new position in shares of Quanta Services during the 4th quarter valued at about $46,364,000. Finally, Public Sector Pension Investment Board increased its stake in shares of Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after acquiring an additional 125,530 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Citigroup dropped their price objective 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. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s 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 Up 4.5 %

NYSE PWR opened at $261.47 on Friday. The stock has a market cap of $38.75 billion, a PE ratio of 43.36, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The business has a 50 day moving average price of $295.49 and a two-hundred day moving average price of $304.13. 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 (NYSE:PWR) last released its earnings results 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 company 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, sell-side analysts predict 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.