1,760 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Miller Financial Services LLC

Miller Financial Services LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,760 shares of the construction company’s stock, valued at approximately $556,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PWR. Webster Bank N. A. grew its holdings in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services in the fourth quarter valued at $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the third quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the third quarter valued at $31,000. Finally, Sound Income Strategies LLC grew its holdings in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PWR. Stifel Nicolaus lowered their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Trading Down 4.0 %

Shares of NYSE PWR opened at $236.09 on Tuesday. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $301.17 and its 200 day simple moving average is $305.31.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion for 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%. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS 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.