Birchcreek Wealth Management LLC Invests $210,000 in Quanta Services, Inc. (NYSE:PWR)

Birchcreek Wealth Management LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 663 shares of the construction company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PWR. Alkeon Capital Management LLC lifted its holdings in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after purchasing an additional 250,000 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Quanta Services during the fourth quarter worth about $46,364,000. International Assets Investment Management LLC lifted its holdings in shares of Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. acquired a new stake in shares of Quanta Services during the third quarter worth about $27,430,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 4.1 %

Shares of PWR opened at $269.75 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $221.07 and a one year high of $365.88. The stock has a market capitalization of $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. The stock has a 50 day moving average price of $316.02 and a 200 day moving average price of $305.98.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on PWR shares. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday. Roth Mkm started coverage on Quanta Services in a report on Friday. They issued a “buy” rating and a $350.00 price target for the company. BMO Capital Markets started coverage on Quanta Services in a report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price target for the company. JPMorgan Chase & Co. boosted 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. Finally, Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

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.