Quanta Services, Inc. (NYSE:PWR) Stock Holdings Increased by Horizon Investments LLC

Horizon Investments LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 85.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,710 shares of the construction company’s stock after purchasing an additional 4,013 shares during the quarter. Horizon Investments LLC’s holdings in Quanta Services were worth $2,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Swedbank AB raised its position in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Quanta Services by 8.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock valued at $406,000 after acquiring an additional 106 shares in the last quarter. Empowered Funds LLC raised its position in Quanta Services by 7.4% during the third quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock valued at $799,000 after acquiring an additional 185 shares in the last quarter. MAI Capital Management raised its position in Quanta Services by 34.0% during the third quarter. MAI Capital Management now owns 7,160 shares of the construction company’s stock valued at $2,135,000 after acquiring an additional 1,816 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Quanta Services during the third quarter valued at approximately $41,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of several recent research reports. Citigroup cut their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. 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’s stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Down 1.5 %

Shares of PWR stock opened at $263.35 on Wednesday. The stock has a market cap of $39.03 billion, a P/E ratio of 43.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The stock has a fifty day moving average price of $291.85 and a 200 day moving average price of $304.45. 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 issued its quarterly earnings data 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 analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.