Envestnet Asset Management Inc. reduced its stake in shares of Quanta Services Inc (NYSE:PWR) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,716 shares of the construction company’s stock after selling 1,604 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Quanta Services were worth $1,634,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in shares of Quanta Services by 38.6% in the second quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock worth $207,871,000 after purchasing an additional 1,758,319 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Quanta Services in the second quarter worth $36,881,000. Renaissance Technologies LLC bought a new position in shares of Quanta Services in the second quarter worth $35,076,000. Cannell Peter B & Co. Inc. bought a new position in shares of Quanta Services in the third quarter worth $34,283,000. Finally, Russell Investments Group Ltd. boosted its stake in Quanta Services by 159.7% during the third quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after buying an additional 580,382 shares in the last quarter. Hedge funds and other institutional investors own 86.11% of the company’s stock.
Shares of Quanta Services Inc (NYSE:PWR) opened at $37.72 on Monday. Quanta Services Inc has a one year low of $30.23 and a one year high of $39.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.80 and a current ratio of 1.85. The firm has a market capitalization of $5,836.08, a PE ratio of 19.75, a PEG ratio of 2.66 and a beta of 0.86.
PWR has been the subject of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 target price on shares of Quanta Services in a research note on Thursday, September 7th. Citigroup set a $47.00 target price on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 27th. B. Riley raised their target price on Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. KeyCorp reaffirmed a “buy” rating and set a $45.00 target price on shares of Quanta Services in a report on Friday, November 3rd. Finally, Robert W. Baird upped their target price on Quanta Services from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $44.64.
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Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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