Quanta Services, Inc. (NYSE:PWR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 201,679 shares of the construction company’s stock after selling 6,041 shares during the period. Principal Financial Group Inc.’s holdings in Quanta Services were worth $63,741,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Webster Bank N. A. grew its stake in shares of 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 buying an additional 81 shares during the period. Sierra Ocean LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth about $30,000. Finally, Sound Income Strategies LLC raised its holdings 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 buying an additional 91 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $292.04 on Thursday. The firm has a market capitalization of $43.11 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business’s fifty day moving average price is $318.48 and its 200 day moving average price is $305.14. Quanta Services, Inc. has a 12 month low of $206.58 and a 12 month high of $365.88.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent analyst reports. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. BMO Capital Markets assumed coverage on Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. Stifel Nicolaus raised their price target on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Truist Financial lowered 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. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $330.50.

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.