Cookson Peirce & Co. Inc. Has $119.58 Million Position in Quanta Services, Inc. (NYSE:PWR)

Cookson Peirce & Co. Inc. lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 378,350 shares of the construction company’s stock after selling 26,884 shares during the period. Quanta Services makes up about 5.4% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its largest holding. Cookson Peirce & Co. Inc. owned approximately 0.26% of Quanta Services worth $119,577,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares during the period. Commonwealth Financial Services LLC increased its holdings in shares of Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 31 shares during the period. Moody Lynn & Lieberson LLC lifted its holdings in shares of Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC grew its position in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $249.27 on Wednesday. The business’s 50 day simple moving average is $307.70 and its 200 day simple moving average is $305.88. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The company has a market cap of $36.94 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 1.41 and a beta of 1.05. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PWR. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America began coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. 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 report on Tuesday, February 25th. Finally, Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Six investment 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. Based on data from MarketBeat.com, the company 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.