Alphinity Investment Management Pty Ltd Sells 600 Shares of Quanta Services, Inc. (NYSE:PWR)

Alphinity Investment Management Pty Ltd cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,079 shares of the construction company’s stock after selling 600 shares during the period. Alphinity Investment Management Pty Ltd’s holdings in Quanta Services were worth $4,134,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PWR. Webster Bank N. A. increased its stake in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC acquired a new stake in Quanta Services during the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the third quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday. Roth Mkm initiated coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $338.00 to $316.00 in a report on Tuesday. Six 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. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Performance

PWR opened at $268.86 on Thursday. The firm has a market cap of $39.84 billion, a P/E ratio of 44.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The business’s fifty day moving average is $311.89 and its 200-day moving average is $305.73.

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

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.