Quanta Services, Inc. $PWR Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 16.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,201 shares of the construction company’s stock after buying an additional 3,192 shares during the quarter. Jones Financial Companies Lllp’s holdings in Quanta Services were worth $9,408,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PWR. Copia Wealth Management lifted its stake in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares during the period. Darwin Wealth Management LLC acquired a new position in Quanta Services in the second quarter valued at $26,000. Activest Wealth Management lifted its position in Quanta Services by 94.1% during the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after buying an additional 32 shares during the period. Solstein Capital LLC boosted its stake in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 5.0%

NYSE:PWR opened at $464.35 on Thursday. The business’s 50-day moving average is $449.69 and its two-hundred day moving average is $424.23. The firm has a market capitalization of $69.24 billion, a PE ratio of 68.79, a price-to-earnings-growth ratio of 2.37 and a beta of 1.15. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $492.80. 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 Ratings Changes

PWR has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Truist Financial increased their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Stifel Nicolaus increased their target price on Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Mizuho set a $415.00 target price on Quanta Services in a report on Tuesday, October 28th. Thirteen research 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 company has an average rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Company 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.