Concurrent Investment Advisors LLC Purchases 150 Shares of Quanta Services, Inc. (NYSE:PWR)

Concurrent Investment Advisors LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,614 shares of the construction company’s stock after buying an additional 150 shares during the period. Concurrent Investment Advisors LLC’s holdings in Quanta Services were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of PWR. Alkeon Capital Management LLC grew its position in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Quanta Services in the 4th quarter valued at about $46,364,000. International Assets Investment Management LLC grew its position in shares of Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after acquiring an additional 147,980 shares during the period. Public Sector Pension Investment Board grew its position in shares of Quanta Services by 81.7% in 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 acquiring an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. bought a new position in shares of Quanta Services in the 3rd quarter valued at about $27,430,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PWR shares. Citigroup decreased their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Stifel Nicolaus raised their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Daiwa Capital Markets started coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $269.75 on Friday. The firm has a 50 day moving average of $316.02 and a 200-day moving average of $305.58. The stock has a market capitalization of $39.82 billion, a PE ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $221.07 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities research 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.