Weiss Asset Management LP Buys New Position in Quanta Services, Inc. (NYSE:PWR)

Weiss Asset Management LP bought a new stake in Quanta Services, Inc. (NYSE:PWR – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,925 shares of the construction company’s stock, valued at approximately $373,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ronald Blue Trust Inc. bought a new position in shares of Quanta Services during the 2nd quarter valued at about $28,000. Alta Advisers Ltd bought a new position in shares of Quanta Services during the 3rd quarter valued at about $51,000. Money Concepts Capital Corp boosted its position in shares of Quanta Services by 112.4% during the 3rd quarter. Money Concepts Capital Corp now owns 478 shares of the construction company’s stock valued at $61,000 after purchasing an additional 253 shares in the last quarter. Hanson & Doremus Investment Management bought a new position in shares of Quanta Services during the 3rd quarter valued at about $63,000. Finally, Lagoda Investment Management L.P. bought a new position in shares of Quanta Services during the 3rd quarter valued at about $68,000. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Quanta Services from $140.00 to $160.00 in a research report on Friday, February 24th. Cowen raised their target price on shares of Quanta Services from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, December 27th. StockNews.com started coverage on shares of Quanta Services in a report on Thursday. They issued a “hold” rating for the company. Robert W. Baird raised their target price on shares of Quanta Services from $157.00 to $173.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Finally, UBS Group raised their target price on shares of Quanta Services to $170.00 in a report on Monday, November 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $166.25.

Quanta Services Price Performance

NYSE PWR opened at $157.21 on Friday. The company has a 50 day simple moving average of $152.89 and a 200-day simple moving average of $145.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 47.35 and a beta of 1.08. Quanta Services, Inc. has a 52-week low of $106.33 and a 52-week high of $168.75.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 23,214 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $163.68, for a total value of $3,799,667.52. Following the completion of the sale, the executive vice president now directly owns 50,367 shares of the company’s stock, valued at $8,244,070.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Quanta Services Company Profile

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.