Quanta Services, Inc. (NYSE:PWR) Stake Lessened by AGF Management Ltd.

AGF Management Ltd. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.8% during the fourth quarter, Holdings Channel reports. The firm owned 750,226 shares of the construction company’s stock after selling 21,848 shares during the period. Quanta Services accounts for about 1.2% of AGF Management Ltd.’s portfolio, making the stock its 15th largest position. AGF Management Ltd.’s holdings in Quanta Services were worth $237,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its position in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC grew its position in Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after buying an additional 43,715 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Quanta Services by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after purchasing an additional 45,486 shares in the last quarter. Finally, Swedbank AB increased its holdings in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Finally, Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Price Performance

PWR opened at $236.09 on Tuesday. The firm has a market capitalization of $34.99 billion, a P/E ratio of 39.15, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $301.17 and a 200-day moving average of $305.31.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

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.