Advisors Asset Management Inc. Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Advisors Asset Management Inc. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,423 shares of the construction company’s stock after purchasing an additional 1,600 shares during the quarter. Advisors Asset Management Inc.’s holdings in Quanta Services were worth $15,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Swedbank AB lifted its stake in shares of 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 purchasing an additional 42,579 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Quanta Services by 8.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock valued at $406,000 after purchasing an additional 106 shares in the last quarter. KBC Group NV lifted its stake in shares of Quanta Services by 13.4% in the 3rd quarter. KBC Group NV now owns 13,094 shares of the construction company’s stock valued at $3,904,000 after purchasing an additional 1,547 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Quanta Services by 8.9% in the 3rd quarter. CIBC Asset Management Inc now owns 21,412 shares of the construction company’s stock valued at $6,384,000 after purchasing an additional 1,742 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Quanta Services by 7.4% during the 3rd quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock valued at $799,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Roth Mkm initiated coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Stifel Nicolaus dropped 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, February 24th. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. 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. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Up 2.6 %

Shares of Quanta Services stock opened at $267.54 on Tuesday. 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 firm has a market cap of $39.65 billion, a price-to-earnings ratio of 44.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The business has a fifty day simple moving average of $292.98 and a 200-day simple moving average of $304.54. 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 announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The company 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%. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services 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.