Shell Asset Management Co. Sells 2,298 Shares of Quanta Services, Inc. $PWR

Shell Asset Management Co. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 54.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,914 shares of the construction company’s stock after selling 2,298 shares during the period. Shell Asset Management Co.’s holdings in Quanta Services were worth $793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Quanta Services during the second quarter worth $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Quanta Services by 57.2% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock valued at $917,009,000 after acquiring an additional 882,209 shares in the last quarter. Select Equity Group L.P. grew its position in Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after acquiring an additional 416,395 shares during the last quarter. Vanguard Group Inc. increased its holdings in Quanta Services by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after purchasing an additional 339,383 shares in the last quarter. Finally, DAVENPORT & Co LLC bought a new position in Quanta Services in the third quarter valued at about $97,080,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several recent research reports. Roth Mkm set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Argus set a $540.00 target price on shares of Quanta Services in a report on Friday, October 31st. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a research note on Monday, November 24th. Evercore boosted their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Weiss Ratings upgraded Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $464.15.

Quanta Services Trading Up 1.5%

PWR opened at $523.75 on Tuesday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $543.28. The company has a fifty day moving average of $458.04 and a 200-day moving average of $430.22. The stock has a market cap of $78.10 billion, a PE ratio of 77.59, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

About Quanta Services

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.