Advisors Asset Management Inc. Sells 2,687 Shares of Quanta Services, Inc. $PWR

Advisors Asset Management Inc. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,873 shares of the construction company’s stock after selling 2,687 shares during the quarter. Advisors Asset Management Inc.’s holdings in Quanta Services were worth $19,840,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Quanta Services during the fourth quarter valued at approximately $298,000. Woodline Partners LP lifted its position in Quanta Services by 40.7% in the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after acquiring an additional 3,606 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Quanta Services by 17.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,095 shares of the construction company’s stock valued at $4,573,000 after purchasing an additional 1,838 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Quanta Services by 27.9% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 10,710 shares of the construction company’s stock worth $4,056,000 after purchasing an additional 2,338 shares in the last quarter. Finally, NorthRock Partners LLC raised its stake in shares of Quanta Services by 19.8% in the second quarter. NorthRock Partners LLC now owns 2,341 shares of the construction company’s stock worth $885,000 after purchasing an additional 387 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

NYSE PWR opened at $509.98 on Wednesday. The business’s fifty day moving average is $453.20 and its 200 day moving average is $427.07. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $520.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market capitalization of $76.05 billion, a PE ratio of 75.55, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Evercore increased their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Cantor Fitzgerald assumed coverage on shares of Quanta Services in a report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price target on the stock. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a report on Friday, October 31st. Mizuho set a $415.00 target price on shares of Quanta Services in a report on Tuesday, October 28th. Finally, Stifel Nicolaus lifted their target price on shares of Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $462.00.

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.