Centricity Wealth Management LLC Acquires Shares of 109 Quanta Services, Inc. (NYSE:PWR)

Centricity Wealth Management LLC bought a new position in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 109 shares of the construction company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% during the 4th 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 purchased a new stake in shares of Quanta Services in the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services during the 3rd quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC increased its stake in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Daiwa Capital Markets started coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $269.75 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market cap of $39.82 billion, a PE ratio of 49.77, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The firm’s 50 day simple moving average is $316.02 and its 200-day simple moving average is $305.18. Quanta Services, Inc. has a one year low of $221.07 and a one year high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities analysts predict that Quanta Services, Inc. will post 7.91 EPS for the current year.

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.