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

M.D. Sass LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 44.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,046 shares of the construction company’s stock after selling 71,730 shares during the period. Quanta Services makes up 3.1% of M.D. Sass LLC’s portfolio, making the stock its 19th largest holding. M.D. Sass LLC’s holdings in Quanta Services were worth $37,731,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Quanta Services during the 2nd quarter worth approximately $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Quanta Services by 57.2% during the second 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 purchasing an additional 882,209 shares in the last quarter. Select Equity Group L.P. lifted its position in Quanta Services by 69.3% during the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after purchasing an additional 416,395 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 339,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Quanta Services by 150.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock worth $156,026,000 after buying an additional 251,845 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a report on Monday, November 24th. Cantor Fitzgerald began coverage on Quanta Services in a report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price target on the stock. Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Citigroup increased 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. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $462.00.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $475.92 on Friday. The firm’s 50 day simple moving average is $450.00 and its 200-day simple moving average is $424.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $492.80. The firm has a market cap of $70.97 billion, a PE ratio of 70.51, a price-to-earnings-growth ratio of 2.25 and a beta of 1.15.

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.