Zurcher Kantonalbank Zurich Cantonalbank Buys 32,993 Shares of Quanta Services, Inc. (NYSE:PWR)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Quanta Services, Inc. (NYSE:PWR) by 14.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 263,138 shares of the construction company’s stock after purchasing an additional 32,993 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Quanta Services were worth $83,165,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Versor Investments LP purchased a new position in Quanta Services during the third quarter valued at approximately $406,000. Kestra Private Wealth Services LLC increased its holdings in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares during the period. Principal Financial Group Inc. increased its holdings in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp increased its holdings in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd increased its holdings in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 2.0 %

NYSE PWR opened at $245.63 on Monday. The company has a market capitalization of $36.40 billion, a PE ratio of 40.73, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a fifty day moving average of $301.17 and a 200 day moving average of $305.31. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. 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 posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Stifel Nicolaus cut their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. Citigroup cut their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $326.95.

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.