Quanta Services, Inc. (NYSE:PWR) Shares Sold by Sandy Spring Bank

Sandy Spring Bank decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,218 shares of the construction company’s stock after selling 477 shares during the quarter. Sandy Spring Bank’s holdings in Quanta Services were worth $4,178,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PWR. Kestra Private Wealth Services LLC lifted its position in shares of 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. lifted its holdings in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp grew its position in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Quanta Services by 4.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after purchasing an additional 793 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $1,754,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

NYSE PWR opened at $271.32 on Friday. The stock has a fifty day simple moving average of $290.21 and a 200-day simple moving average of $303.99. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market cap of $40.21 billion, a PE ratio of 45.00, a P/E/G 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 announced 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. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Ratings Changes

PWR has been the subject of several research reports. B. Riley reiterated a “neutral” rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

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.