Charles Schwab Investment Management Inc. Purchases 24,100 Shares of Quanta Services, Inc. (NYSE:PWR)

Charles Schwab Investment Management Inc. lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 872,876 shares of the construction company’s stock after purchasing an additional 24,100 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Quanta Services were worth $275,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Swedbank AB grew its holdings in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Quanta Services by 12.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock worth $324,000 after purchasing an additional 124 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Quanta Services by 8,786.6% in the 3rd quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock worth $9,183,000 after buying an additional 29,611 shares during the last quarter. QRG Capital Management Inc. raised its stake in Quanta Services by 15.0% during the third quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock valued at $3,730,000 after buying an additional 1,636 shares during the last quarter. Finally, PDS Planning Inc bought a new stake in Quanta Services in the third quarter worth $222,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 1.4 %

Shares of PWR stock opened at $253.20 on Thursday. The stock has a 50 day simple moving average of $306.07 and a 200-day simple moving average of $305.76. 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 cap of $37.52 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial reduced their price objective 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. JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $326.95.

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.