Navellier & Associates Inc. Has $19.79 Million Position in Quanta Services, Inc. $PWR

Navellier & Associates Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,764 shares of the construction company’s stock after selling 5,253 shares during the quarter. Quanta Services comprises approximately 2.0% of Navellier & Associates Inc.’s investment portfolio, making the stock its 4th biggest holding. Navellier & Associates Inc.’s holdings in Quanta Services were worth $19,794,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Quanta Services in the 2nd quarter worth approximately $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Quanta Services by 57.2% in the 2nd 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 buying an additional 882,209 shares during the period. Select Equity Group L.P. raised its position in shares of 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 worth $384,554,000 after acquiring an additional 416,395 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 1.9% during the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after acquiring an additional 339,383 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Quanta Services by 150.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock valued at $156,026,000 after acquiring an additional 251,845 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $514.46 on Tuesday. The stock’s fifty day simple moving average is $452.10 and its 200 day simple moving average is $426.45. 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 company has a market capitalization of $76.72 billion, a PE ratio of 76.22, a PEG ratio of 2.46 and a beta of 1.15. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $520.42.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PWR. Evercore boosted their price objective on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Stifel Nicolaus raised their price objective on shares of Quanta Services from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Argus set a $540.00 target price on shares of Quanta Services in a report on Friday, October 31st. Sanford C. Bernstein cut their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Finally, Jefferies Financial Group reduced their price target on Quanta Services from $517.00 to $506.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.