Quanta Services, Inc. $PWR Holdings Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,247 shares of the construction company’s stock after selling 4,085 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Quanta Services worth $75,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Petros Family Wealth LLC raised its holdings in shares of Quanta Services by 2.2% during the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $456,000 after acquiring an additional 24 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in Quanta Services by 1.2% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after purchasing an additional 26 shares during the period. Carr Financial Group Corp boosted its position in shares of Quanta Services by 1.8% in the third quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock worth $610,000 after buying an additional 26 shares during the period. Kathmere Capital Management LLC grew its holdings in shares of Quanta Services by 2.8% during the third quarter. Kathmere Capital Management LLC now owns 961 shares of the construction company’s stock valued at $398,000 after buying an additional 26 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its position in Quanta Services by 9.8% during the 3rd quarter. Westside Investment Management Inc. now owns 292 shares of the construction company’s stock worth $122,000 after acquiring an additional 26 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of a number of research reports. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a report on Monday, November 24th. Mizuho set a $415.00 price objective on shares of Quanta Services in a research note on Tuesday, October 28th. Argus set a $540.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a report on Friday, October 31st. Finally, Sanford C. Bernstein cut their price objective on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Stock Performance

Shares of PWR opened at $507.87 on Monday. The firm has a market cap of $75.73 billion, a price-to-earnings ratio of 75.24, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. The company’s fifty day moving average is $450.86 and its 200-day moving average is $425.70. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $508.45.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.