Cutter & CO Brokerage Inc. Buys 51 Shares of Quanta Services, Inc. (NYSE:PWR)

Cutter & CO Brokerage Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,541 shares of the construction company’s stock after acquiring an additional 51 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Quanta Services were worth $487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Swedbank AB raised its holdings in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the period. Assenagon Asset Management S.A. raised its holdings in Quanta Services by 10.9% during the third quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock valued at $1,595,000 after acquiring an additional 526 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Quanta Services by 4.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,469 shares of the construction company’s stock valued at $6,371,000 after acquiring an additional 957 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Quanta Services by 40.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,845 shares of the construction company’s stock valued at $15,458,000 after acquiring an additional 14,983 shares during the period. Finally, Orrstown Financial Services Inc. bought a new stake in Quanta Services during the third quarter valued at about $293,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 1.9 %

Shares of NYSE:PWR opened at $264.35 on Wednesday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The business has a 50 day simple moving average of $312.93 and a two-hundred day simple moving average of $305.99. The firm has a market capitalization of $39.02 billion, a PE ratio of 43.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. 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 (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analyst Ratings Changes

PWR has been the topic of several research reports. Citigroup reduced their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Stifel Nicolaus reduced their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday. Truist Financial reduced their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Six equities research 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 stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $326.95.

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.