Gryphon Financial Partners LLC Cuts Holdings in Quanta Services, Inc. (NYSE:PWR)

Gryphon Financial Partners LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 950 shares of the construction company’s stock after selling 54 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Quanta Services were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC bought a new position in Quanta Services during the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the 3rd quarter valued at $31,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $250.77 on Tuesday. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The company has a market capitalization of $37.16 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The stock’s fifty day moving average is $309.23 and its two-hundred day moving average is $306.00. 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 issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PWR. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Finally, Citigroup lowered their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six 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. According to data from MarketBeat.com, the stock presently has a consensus 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.