Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 5,200 Shares of Quanta Services, Inc. (NYSE:PWR)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,450 shares of the construction company’s stock after selling 5,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Quanta Services were worth $11,836,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PWR. Versor Investments LP bought a new stake in Quanta Services during the 3rd quarter worth about $406,000. Kestra Private Wealth Services LLC raised its holdings in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after acquiring an additional 2,184 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 during the last quarter. Synovus Financial Corp grew its stake in 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 in the last quarter. Finally, Waverton Investment Management Ltd increased its position in shares of Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after purchasing an additional 2,557 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. BMO Capital Markets started coverage on Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target for the company. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Finally, Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Four research 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 company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $331.53.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $269.75 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.30 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. The company’s 50 day moving average price is $316.02 and its two-hundred day moving average price is $305.98. The firm has a market cap of $39.82 billion, a PE ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

About Quanta Services

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.