Twin Capital Management Inc. Sells 1,912 Shares of Quanta Services, Inc. $PWR

Twin Capital Management Inc. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,765 shares of the construction company’s stock after selling 1,912 shares during the period. Twin Capital Management Inc.’s holdings in Quanta Services were worth $4,047,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Copia Wealth Management increased its position in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services in the second quarter worth $26,000. Activest Wealth Management raised its stake in Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Solstein Capital LLC boosted its holdings in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in Quanta Services by 213.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 49 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their target price for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Stifel Nicolaus lifted their price objective on Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Roth Mkm set a $500.00 target price on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Finally, The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a report on Monday, November 24th. 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, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

Quanta Services Stock Performance

NYSE PWR opened at $507.87 on Friday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $508.45. The company has a 50 day moving average of $450.86 and a 200-day moving average of $425.33. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $75.73 billion, a price-to-earnings ratio of 75.24, a PEG ratio of 2.31 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.