Erste Asset Management GmbH Sells 3,284 Shares of Quanta Services, Inc. (NYSE:PWR)

Erste Asset Management GmbH lowered its position in Quanta Services, Inc. (NYSE:PWR) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,817 shares of the construction company’s stock after selling 3,284 shares during the period. Erste Asset Management GmbH’s holdings in Quanta Services were worth $22,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after purchasing an additional 43,715 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Quanta Services by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after purchasing an additional 45,486 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $249.47 on Thursday. The stock has a market cap of $36.97 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. 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 has a fifty day moving average of $298.12 and a 200-day moving average of $304.89.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PWR. Stifel Nicolaus dropped 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. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Six equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.