Patten & Patten Inc. TN Takes $390,000 Position in Quanta Services, Inc. (NYSE:PWR)

Patten & Patten Inc. TN bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,235 shares of the construction company’s stock, valued at approximately $390,000.

Several other large investors also recently made changes to their positions in the company. Harbour Investments Inc. grew its stake in shares of Quanta Services by 1.6% in the 4th quarter. Harbour Investments Inc. now owns 4,283 shares of the construction company’s stock valued at $1,354,000 after buying an additional 68 shares during the period. Ninepoint Partners LP boosted its stake in Quanta Services by 1.2% during the 4th quarter. Ninepoint Partners LP now owns 6,412 shares of the construction company’s stock valued at $2,027,000 after purchasing an additional 74 shares during the last quarter. Diversified Enterprises LLC boosted its stake in Quanta Services by 99.4% during the 4th quarter. Diversified Enterprises LLC now owns 2,484 shares of the construction company’s stock valued at $785,000 after purchasing an additional 1,238 shares during the last quarter. Natixis Advisors LLC boosted its stake in Quanta Services by 5.4% during the 4th quarter. Natixis Advisors LLC now owns 90,421 shares of the construction company’s stock valued at $28,578,000 after purchasing an additional 4,671 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in Quanta Services during the 4th quarter valued at about $207,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PWR shares. Roth Mkm started coverage on Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Finally, Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Trading Up 4.5 %

Shares of PWR stock opened at $261.47 on Monday. The company’s fifty day simple moving average is $294.19 and its two-hundred day simple moving average is $304.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The stock has a market capitalization of $38.75 billion, a price-to-earnings ratio of 43.36, a PEG ratio of 1.41 and a beta of 1.10.

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

Quanta Services 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.