HighTower Advisors LLC Increases Stake in Quanta Services, Inc. $PWR

HighTower Advisors LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 167,946 shares of the construction company’s stock after buying an additional 6,797 shares during the period. HighTower Advisors LLC’s holdings in Quanta Services were worth $69,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PWR. Mediolanum International Funds Ltd boosted its holdings in Quanta Services by 15.5% in the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock valued at $12,642,000 after purchasing an additional 4,451 shares during the period. Calamos Advisors LLC raised its position in Quanta Services by 17.1% in the 3rd quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock valued at $43,680,000 after purchasing an additional 15,388 shares in the last quarter. Chilton Capital Management LLC boosted its stake in shares of Quanta Services by 63.3% in the 3rd quarter. Chilton Capital Management LLC now owns 166,536 shares of the construction company’s stock valued at $69,016,000 after buying an additional 64,560 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Quanta Services by 59.9% during the third quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock worth $18,397,000 after buying an additional 16,637 shares in the last quarter. Finally, Yahav Achim Ve Achayot Provident Funds Management Co Ltd. purchased a new stake in shares of Quanta Services during the third quarter worth approximately $1,752,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Roth Mkm set a $500.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Mizuho set a $415.00 target price on shares of Quanta Services in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and raised their price target for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Evercore upped their price objective on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a report on Monday, November 24th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $464.15.

Quanta Services Stock Up 1.5%

Quanta Services stock opened at $523.75 on Tuesday. The company has a market capitalization of $78.10 billion, a P/E ratio of 77.59, a PEG ratio of 2.54 and a beta of 1.15. 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 fifty-two week low of $227.08 and a fifty-two week high of $543.28. The stock has a 50-day simple moving average of $458.04 and a 200-day simple moving average of $430.22.

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.