Harbour Investments Inc. Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Harbour Investments Inc. raised its position in Quanta Services, Inc. (NYSE:PWR) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,283 shares of the construction company’s stock after buying an additional 68 shares during the quarter. Harbour Investments Inc.’s holdings in Quanta Services were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ninepoint Partners LP increased its holdings in shares of Quanta Services by 1.2% in the fourth 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 period. Diversified Enterprises LLC grew its holdings in Quanta Services by 99.4% during the fourth quarter. Diversified Enterprises LLC now owns 2,484 shares of the construction company’s stock worth $785,000 after acquiring an additional 1,238 shares during the period. Natixis Advisors LLC grew its holdings in Quanta Services by 5.4% during the fourth quarter. Natixis Advisors LLC now owns 90,421 shares of the construction company’s stock worth $28,578,000 after acquiring an additional 4,671 shares during the period. Family Firm Inc. acquired a new position in Quanta Services during the fourth quarter worth $207,000. Finally, First Eagle Investment Management LLC grew its holdings in Quanta Services by 3.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,953 shares of the construction company’s stock worth $1,249,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PWR. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Stifel Nicolaus dropped 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, February 24th. Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Down 1.5 %

Shares of NYSE:PWR opened at $263.35 on Wednesday. The stock’s fifty day simple moving average is $291.85 and its 200-day simple moving average is $304.45. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The company has a market capitalization of $39.03 billion, a P/E ratio of 43.67, a P/E/G ratio of 1.41 and a beta of 1.10. 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 (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping 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 firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share 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.