Rhumbline Advisers Has $141.46 Million Position in Quanta Services, Inc. $PWR

Rhumbline Advisers raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,344 shares of the construction company’s stock after acquiring an additional 1,896 shares during the quarter. Rhumbline Advisers’ holdings in Quanta Services were worth $141,460,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at $298,000. Woodline Partners LP raised its holdings in Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after buying an additional 3,606 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Quanta Services by 17.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,095 shares of the construction company’s stock worth $4,573,000 after buying an additional 1,838 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Quanta Services by 27.9% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 10,710 shares of the construction company’s stock worth $4,056,000 after acquiring an additional 2,338 shares in the last quarter. Finally, NorthRock Partners LLC lifted its holdings in Quanta Services by 19.8% in the 2nd quarter. NorthRock Partners LLC now owns 2,341 shares of the construction company’s stock worth $885,000 after purchasing an additional 387 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 2.5%

Shares of Quanta Services stock opened at $523.53 on Thursday. The company’s fifty day moving average price is $454.54 and its two-hundred day moving average price is $427.75. The firm has a market capitalization of $78.07 billion, a PE ratio of 77.56, a price-to-earnings-growth ratio of 2.47 and a beta of 1.15. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $534.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Citigroup raised their target price on shares of Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Jefferies Financial Group lowered their price target 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. Finally, Evercore lifted their price objective on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $462.00.

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.