Sage Mountain Advisors LLC Purchases Shares of 645 Quanta Services, Inc. (NYSE:PWR)

Sage Mountain Advisors LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 645 shares of the construction company’s stock, valued at approximately $204,000.

Other institutional investors have also added to or reduced their stakes in the company. Versor Investments LP purchased a new position in Quanta Services during the 3rd quarter valued at approximately $406,000. Kestra Private Wealth Services LLC grew its holdings in 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 valued at $1,502,000 after buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares in the last quarter. Synovus Financial Corp grew its holdings in Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $1,193,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PWR. JPMorgan Chase & Co. raised their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective for the company. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Finally, Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Up 1.4 %

Shares of NYSE PWR opened at $249.47 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $298.12 and a two-hundred day simple moving average of $304.89. The firm has a market cap of $36.97 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last issued its earnings results 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 return on equity of 18.00% and a net margin of 3.82%. Analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

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.