Envestnet Portfolio Solutions Inc. Sells 1,918 Shares of Quanta Services, Inc. (NYSE:PWR)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 9.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,643 shares of the construction company’s stock after selling 1,918 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Quanta Services were worth $5,576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Private Wealth Services LLC lifted its position in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares during the last quarter. Principal Financial Group Inc. raised its position in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Synovus Financial Corp raised its position in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after purchasing an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC bought a new position in Quanta Services in the fourth quarter valued at about $1,754,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 1.5 %

NYSE PWR opened at $263.35 on Wednesday. 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, Inc. has a one year low of $227.11 and a one year high of $365.88. The business has a 50 day simple moving average of $291.85 and a 200 day simple moving average of $304.45. The stock has a market capitalization of $39.03 billion, a P/E ratio of 43.67, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates 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. Research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PWR shares. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus lowered their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

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.