Royal Harbor Partners LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Royal Harbor Partners LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,609 shares of the construction company’s stock, valued at approximately $509,000.

Other hedge funds also recently made changes to their positions in the company. Versor Investments LP purchased a new position in shares of Quanta Services in the third quarter worth about $406,000. Kestra Private Wealth Services LLC lifted its position in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd raised its holdings in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after purchasing an additional 2,557 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 1.4 %

Shares of NYSE PWR opened at $253.20 on Thursday. The firm’s 50-day moving average is $306.07 and its two-hundred day moving average is $305.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market capitalization of $37.52 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PWR. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Stifel Nicolaus reduced their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

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.