Longbow Finance SA Purchases New Position in Quanta Services, Inc. $PWR

Longbow Finance SA acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,679 shares of the construction company’s stock, valued at approximately $6,912,000.

Several other large investors also recently added to or reduced their stakes in PWR. Norges Bank bought a new stake in shares of Quanta Services during the 2nd quarter worth about $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of 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 during the period. Select Equity Group L.P. lifted its position in Quanta Services by 69.3% in the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after purchasing an additional 416,395 shares during the period. Vanguard Group Inc. increased its holdings in Quanta Services by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after buying an additional 339,383 shares during the period. Finally, DAVENPORT & Co LLC acquired a new position in Quanta Services in the third quarter worth about $97,080,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 1.5%

NYSE PWR opened at $516.16 on Friday. The stock’s 50-day moving average is $455.57 and its 200-day moving average is $428.36. The firm has a market cap of $76.97 billion, a P/E ratio of 76.47, a P/E/G ratio of 2.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $543.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Stifel Nicolaus increased their price target on Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Cantor Fitzgerald started coverage on Quanta Services in a research report on Friday, January 23rd. They set an “overweight” rating and a $520.00 target price for the company. Robert W. Baird set a $490.00 price target on Quanta Services in a research note on Friday, October 31st. 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. Finally, Argus set a $540.00 price objective on Quanta Services in a report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average 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.