Principal Securities Inc. Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Principal Securities Inc. raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,259 shares of the construction company’s stock after buying an additional 187 shares during the period. Principal Securities Inc.’s holdings in Quanta Services were worth $714,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Everhart Financial Group Inc. raised its holdings in Quanta Services by 3.0% in the 4th quarter. Everhart Financial Group Inc. now owns 4,265 shares of the construction company’s stock worth $1,348,000 after purchasing an additional 125 shares in the last quarter. Vivid Wealth Management LLC bought a new position in shares of Quanta Services in the 4th quarter worth about $2,191,000. Lord & Richards Wealth Management LLC bought a new position in shares of Quanta Services in the 4th quarter worth about $550,000. Myriad Asset Management US LP bought a new position in shares of Quanta Services in the 4th quarter worth about $1,283,000. Finally, Quaero Capital S.A. increased its stake in shares of Quanta Services by 198.2% in the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company’s stock worth $2,253,000 after acquiring an additional 4,738 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR stock opened at $280.89 on Friday. Quanta Services, Inc. has a one year low of $206.58 and a one year high of $365.88. The company’s fifty day moving average price is $317.38 and its 200-day moving average price is $304.97. 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 company has a market capitalization of $41.46 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on PWR. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Citigroup reduced their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services 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.