Jacobi Capital Management LLC Sells 275 Shares of Quanta Services, Inc. (NYSE:PWR)

Jacobi Capital Management LLC cut its stake in Quanta Services, Inc. (NYSE:PWR) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,133 shares of the construction company’s stock after selling 275 shares during the period. Jacobi Capital Management LLC’s holdings in Quanta Services were worth $3,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Geneos Wealth Management Inc. increased its stake in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after purchasing an additional 29 shares in the last quarter. HB Wealth Management LLC increased its stake in Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC boosted its position in 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 last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.0 %

PWR stock opened at $259.32 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The stock has a market capitalization of $38.43 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.41 and a beta of 1.05. The business’s fifty day moving average price is $310.62 and its two-hundred day moving average price is $305.40. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for 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%. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

PWR has been the subject of a number of recent research reports. Truist Financial reduced their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $338.00 to $316.00 in a research report on Tuesday. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Citigroup reduced their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.