Sigma Planning Corp Sells 145 Shares of Quanta Services, Inc. (NYSE:PWR)

Sigma Planning Corp cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 14.1% in the 4th quarter, HoldingsChannel reports. The fund owned 882 shares of the construction company’s stock after selling 145 shares during the period. Sigma Planning Corp’s holdings in Quanta Services were worth $279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC bought a new position in Quanta Services in the 4th quarter worth about $27,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth about $30,000. Finally, Sound Income Strategies LLC boosted its position in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Quanta Services stock opened at $259.32 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $38.43 billion, a PE ratio of 43.01, a P/E/G ratio of 1.41 and a beta of 1.05. The firm has a fifty day simple moving average of $310.62 and a two-hundred day simple moving average of $305.40. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PWR shares. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $326.95.

About Quanta Services

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.