First Citizens Bank & Trust Co. lessened its holdings in shares of Quanta Services Inc (NYSE:PWR) by 10.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 62,322 shares of the construction company’s stock after selling 7,641 shares during the period. First Citizens Bank & Trust Co.’s holdings in Quanta Services were worth $2,438,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PWR. Mckinley Capital Management LLC Delaware acquired a new position in Quanta Services during the third quarter worth $111,000. Tower Research Capital LLC TRC grew its holdings in Quanta Services by 182.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after acquiring an additional 2,190 shares during the period. Commonwealth Bank of Australia acquired a new position in Quanta Services during the second quarter worth $164,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Quanta Services by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock worth $189,000 after acquiring an additional 708 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in Quanta Services during the third quarter worth $209,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Quanta Services Inc (PWR) opened at $38.14 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5,900.00, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Quanta Services Inc has a 12-month low of $30.23 and a 12-month high of $40.10.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.30 billion. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. Quanta Services’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. equities analysts predict that Quanta Services Inc will post 1.77 EPS for the current year.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a report on Monday. Robert W. Baird set a $42.00 price objective on Quanta Services and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Stifel Nicolaus reaffirmed a “buy” rating on shares of Quanta Services in a report on Thursday, December 14th. KeyCorp reaffirmed a “buy” rating and set a $46.00 price objective on shares of Quanta Services in a report on Wednesday, November 29th. Finally, B. Riley upped their price objective on Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Quanta Services has an average rating of “Buy” and a consensus target price of $44.73.

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Quanta Services Profile

Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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