Crestwood Advisors Group LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Crestwood Advisors Group LLC trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,973 shares of the construction company’s stock after selling 598 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Quanta Services were worth $33,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB grew its stake in shares of Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Eastern Bank purchased a new stake in Quanta Services during the 3rd quarter worth approximately $44,000. International Assets Investment Management LLC grew its position in Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Quanta Services by 10.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock worth $1,595,000 after purchasing an additional 526 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Quanta Services by 2.5% during the third quarter. Ballentine Partners LLC now owns 3,123 shares of the construction company’s stock valued at $931,000 after buying an additional 77 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 4.1 %

PWR stock opened at $269.75 on Monday. The firm has a market cap of $39.82 billion, a P/E ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. The company’s 50-day simple moving average is $316.02 and its 200-day simple moving average is $305.98. 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, Inc. has a 52-week low of $221.07 and a 52-week high of $365.88.

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, topping 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 company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. BMO Capital Markets started coverage on Quanta Services in a research note on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target on the stock. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Roth Mkm began coverage on Quanta Services in a research report on Friday. They issued a “buy” rating and a $350.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $331.53.

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.