Financial Advocates Investment Management raised its position in shares of Quanta Services, Inc. (NYSE:PWR – Get Rating) by 72.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,311 shares of the construction company’s stock after purchasing an additional 2,650 shares during the quarter. Financial Advocates Investment Management’s holdings in Quanta Services were worth $791,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of PWR. JPMorgan Chase & Co. grew its stake in shares of Quanta Services by 32.9% in the first quarter. JPMorgan Chase & Co. now owns 5,530,170 shares of the construction company’s stock worth $727,826,000 after acquiring an additional 1,370,362 shares during the period. Royal Bank of Canada grew its stake in shares of Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock worth $196,405,000 after acquiring an additional 511,508 shares during the period. Congress Asset Management Co. MA bought a new stake in shares of Quanta Services in the second quarter worth approximately $58,739,000. Ardevora Asset Management LLP bought a new stake in shares of Quanta Services in the second quarter worth approximately $56,929,000. Finally, AGF Investments Inc. bought a new stake in shares of Quanta Services in the first quarter worth approximately $55,267,000. 91.79% of the stock is currently owned by institutional investors.
Quanta Services Price Performance
Shares of NYSE:PWR opened at $146.20 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.57. Quanta Services, Inc. has a 1-year low of $93.91 and a 1-year high of $151.77. The company has a market capitalization of $20.89 billion, a P/E ratio of 49.90 and a beta of 1.10. The firm’s 50 day simple moving average is $137.44 and its two-hundred day simple moving average is $132.68.
Quanta Services Announces Dividend
Analyst Ratings Changes
PWR has been the subject of a number of research analyst reports. Argus lifted their price target on shares of Quanta Services from $154.00 to $162.00 in a research note on Friday, September 9th. Robert W. Baird raised their price objective on shares of Quanta Services from $136.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. StockNews.com began coverage on shares of Quanta Services in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Cowen raised their price objective on shares of Quanta Services from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. Finally, KeyCorp raised their price objective on shares of Quanta Services from $156.00 to $174.00 in a report on Tuesday, November 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.33.
Quanta Services Profile
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.
- Get a free copy of the StockNews.com research report on Quanta Services (PWR)
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