Abacus Planning Group Inc. Has $491,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Abacus Planning Group Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 9.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,554 shares of the construction company’s stock after selling 161 shares during the quarter. Abacus Planning Group Inc.’s holdings in Quanta Services were worth $491,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Webster Bank N. A. increased its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in Quanta Services in the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the third quarter worth $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the third quarter worth $30,000. Finally, Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PWR. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. BMO Capital Markets assumed coverage on Quanta Services in a research note on Monday, February 3rd. They set an “outperform” rating and a $338.00 target price for the company. Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $292.04 on Thursday. The stock has a market capitalization of $43.11 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88. The stock has a 50 day moving average price of $318.48 and a 200 day moving average price of $305.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

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.