Chase Investment Counsel Corp Sells 418 Shares of Quanta Services, Inc. (NYSE:PWR)

Chase Investment Counsel Corp lessened its position in Quanta Services, Inc. (NYSE:PWR) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,616 shares of the construction company’s stock after selling 418 shares during the quarter. Quanta Services accounts for 1.4% of Chase Investment Counsel Corp’s portfolio, making the stock its 28th largest position. Chase Investment Counsel Corp’s holdings in Quanta Services were worth $4,303,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Alkeon Capital Management LLC lifted its holdings in Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Quanta Services during the 4th quarter valued at about $53,949,000. Union Bancaire Privee UBP SA bought a new stake in Quanta Services during the 4th quarter valued at about $46,364,000. Public Sector Pension Investment Board lifted its holdings in Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after buying an additional 125,530 shares in the last quarter. Finally, State Street Corp lifted its holdings in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PWR shares. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Stifel Nicolaus cut their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Citigroup cut their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six equities 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’s stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Up 0.0 %

Shares of Quanta Services stock opened at $259.32 on Friday. The company has a market cap of $38.43 billion, a P/E ratio of 43.01, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. 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 firm’s 50 day moving average price is $310.62 and its 200-day moving average price is $305.40.

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. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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.