Quanta Services, Inc. (NYSE:PWR) Position Trimmed by Mengis Capital Management Inc.

Mengis Capital Management Inc. decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,930 shares of the construction company’s stock after selling 1,175 shares during the period. Quanta Services makes up approximately 2.3% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Mengis Capital Management Inc.’s holdings in Quanta Services were worth $11,040,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Financial Services LLC raised its holdings in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC raised 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 acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC raised its holdings in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC raised its holdings in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 3.6 %

Quanta Services stock opened at $259.79 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a 50 day moving average price of $314.37 and a 200 day moving average price of $305.96. The company has a market capitalization of $38.35 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its quarterly 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on PWR. 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 report on Monday. Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday. They set a “buy” rating and a $350.00 price target for the company. Finally, Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $328.11.

Quanta Services Company 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.