Quanta Services, Inc. $PWR Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,946 shares of the construction company’s stock after acquiring an additional 6,797 shares during the period. HighTower Advisors LLC owned approximately 0.11% of Quanta Services worth $69,602,000 at the end of the most recent quarter.

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

Quanta Services Stock Up 1.5%

Shares of NYSE PWR opened at $523.75 on Tuesday. The firm has a market cap of $78.10 billion, a price-to-earnings ratio of 77.59, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The company’s 50-day simple moving average is $458.04 and its 200-day simple moving average is $430.22. 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 52-week low of $227.08 and a 52-week high of $543.28.

Analysts Set New Price Targets

PWR has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on Quanta Services from $517.00 to $506.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Evercore upped their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Sanford C. Bernstein raised their target price on Quanta Services from $428.00 to $471.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $464.15.

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.