Impact Investors Inc Takes Position in Quanta Services, Inc. (NYSE:PWR)

Impact Investors Inc acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, HoldingsChannel reports. The firm acquired 5,090 shares of the construction company’s stock, valued at approximately $1,609,000. Quanta Services makes up about 1.2% of Impact Investors Inc’s holdings, making the stock its 19th largest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its position in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Financial Services LLC raised its stake in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after buying an additional 29 shares during the period. HB Wealth Management LLC grew its stake in shares of Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the period. Moody Lynn & Lieberson LLC raised its stake in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC lifted its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after buying an additional 33 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Northland Securities reissued an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $338.00 to $316.00 in a research report on Tuesday. JPMorgan Chase & Co. increased 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. Finally, Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Performance

NYSE PWR opened at $264.35 on Wednesday. The company has a 50-day simple moving average of $312.93 and a two-hundred day simple moving average of $305.99. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (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 business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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.