Thrivent Financial for Lutherans Purchases 2,569 Shares of Quanta Services, Inc. (NYSE:PWR)

Thrivent Financial for Lutherans increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,762 shares of the construction company’s stock after acquiring an additional 2,569 shares during the period. Thrivent Financial for Lutherans owned about 0.33% of Quanta Services worth $153,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kestra Private Wealth Services LLC increased its position in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. raised its position in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares during the period. Synovus Financial Corp boosted its stake in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after acquiring an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after acquiring an additional 793 shares during the period. Finally, SeaBridge Investment Advisors LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $1,754,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Quanta Services Stock Performance

Shares of PWR opened at $267.54 on Tuesday. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The business’s fifty day simple moving average is $292.98 and its two-hundred day simple moving average is $304.54. 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 company has a market cap of $39.65 billion, a price-to-earnings ratio of 44.37, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.