Candriam S.C.A. Has $12.52 Million Position in Quanta Services, Inc. (NYSE:PWR)

Candriam S.C.A. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 48.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,609 shares of the construction company’s stock after selling 37,046 shares during the period. Candriam S.C.A.’s holdings in Quanta Services were worth $12,518,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Royal Harbor Partners LLC acquired a new position in Quanta Services during the fourth quarter valued at approximately $509,000. Vestmark Advisory Solutions Inc. boosted its position in Quanta Services by 10.9% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,048 shares of the construction company’s stock valued at $331,000 after purchasing an additional 103 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Quanta Services during the fourth quarter valued at approximately $203,068,000. First Business Financial Services Inc. boosted its position in Quanta Services by 8.9% during the fourth quarter. First Business Financial Services Inc. now owns 12,794 shares of the construction company’s stock valued at $4,044,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Quanta Services by 2.0% during the fourth quarter. Arizona State Retirement System now owns 42,792 shares of the construction company’s stock valued at $13,524,000 after purchasing an additional 851 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $245.63 on Friday. The stock’s fifty day moving average price is $302.72 and its two-hundred day moving average price is $304.94. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. 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 firm has a market cap of $36.40 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial cut their price objective 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. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Citigroup cut their price objective 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. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Stifel Nicolaus cut 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 investment 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.95.

About Quanta Services

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.