M.D. Sass LLC Sells 71,730 Shares of Quanta Services, Inc. $PWR

M.D. Sass LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 44.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,046 shares of the construction company’s stock after selling 71,730 shares during the quarter. Quanta Services comprises 3.1% of M.D. Sass LLC’s investment portfolio, making the stock its 19th biggest holding. M.D. Sass LLC owned approximately 0.06% of Quanta Services worth $37,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Petros Family Wealth LLC grew its holdings in Quanta Services by 2.2% in the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock worth $456,000 after purchasing an additional 24 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after purchasing an additional 26 shares in the last quarter. Carr Financial Group Corp grew its stake in shares of Quanta Services by 1.8% in the 3rd quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock worth $610,000 after buying an additional 26 shares during the last quarter. Kathmere Capital Management LLC raised its stake in Quanta Services by 2.8% during the third quarter. Kathmere Capital Management LLC now owns 961 shares of the construction company’s stock valued at $398,000 after buying an additional 26 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Quanta Services by 9.8% in the third quarter. Westside Investment Management Inc. now owns 292 shares of the construction company’s stock worth $122,000 after acquiring an additional 26 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PWR shares. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a research note on Monday, November 24th. Roth Mkm set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research report on Friday, October 31st. Sanford C. Bernstein cut their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Finally, Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Stock Up 2.4%

PWR opened at $475.92 on Friday. The firm’s 50 day simple moving average is $450.00 and its two-hundred day simple moving average is $424.58. The company has a market capitalization of $70.97 billion, a PE ratio of 70.51, a PEG ratio of 2.25 and a beta of 1.15. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $492.80. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

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.