New York Life Investment Management LLC Boosts Position in Quanta Services, Inc. (NYSE:PWR)

New York Life Investment Management LLC raised its stake in Quanta Services, Inc. (NYSE:PWR) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,961 shares of the construction company’s stock after purchasing an additional 149 shares during the quarter. New York Life Investment Management LLC’s holdings in Quanta Services were worth $6,941,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PWR. Alkeon Capital Management LLC raised its holdings in shares of Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Quanta Services in the fourth quarter worth $46,364,000. Public Sector Pension Investment Board raised its holdings in shares of Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after acquiring an additional 125,530 shares during the last quarter. State Street Corp raised its holdings in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in Quanta Services by 165.1% in the third quarter. Cerity Partners LLC now owns 133,885 shares of the construction company’s stock valued at $39,918,000 after purchasing an additional 83,390 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR opened at $259.32 on Friday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The business has a 50-day moving average of $310.62 and a 200-day moving average of $305.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market capitalization of $38.43 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on PWR. Northland Securities reiterated 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. JPMorgan Chase & Co. upped their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $338.00 to $316.00 in a research note on Tuesday. Finally, Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

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.