Quanta Services, Inc. (NYSE:PWR) Shares Sold by Otter Creek Advisors LLC

Otter Creek Advisors LLC trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 70.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,075 shares of the construction company’s stock after selling 19,369 shares during the period. Otter Creek Advisors LLC’s holdings in Quanta Services were worth $2,552,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. Geneos Wealth Management Inc. boosted its holdings in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares during the period. Commonwealth Financial Services LLC boosted its stake in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after purchasing an additional 29 shares during the period. HB Wealth Management LLC grew its position in Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in shares of Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC raised its position in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 1.7 %

Shares of NYSE:PWR opened at $268.86 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock’s 50-day moving average is $311.89 and its 200-day moving average is $305.73. The company has a market cap of $39.84 billion, a P/E ratio of 44.59, a P/E/G 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.

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

Analysts Set New Price Targets

PWR has been the subject of several research reports. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $338.00 to $316.00 in a research note on Tuesday. Stifel Nicolaus dropped their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday. Roth Mkm started coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, Citigroup dropped their target price on 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Company 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.