Principal Securities Inc. Has $714,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Principal Securities Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,259 shares of the construction company’s stock after buying an additional 187 shares during the period. Principal Securities Inc.’s holdings in Quanta Services were worth $714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Quanta Services during the third quarter worth $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the third quarter worth $30,000. Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PWR. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. BMO Capital Markets started coverage on shares of Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target on the stock. Finally, Northland Securities restated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Price Performance

PWR stock opened at $280.89 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $206.58 and a one year high of $365.88. The stock has a market cap of $41.46 billion, a PE ratio of 51.82, a P/E/G ratio of 1.44 and a beta of 1.05. The firm has a 50 day simple moving average of $317.38 and a two-hundred day simple moving average of $304.97.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. On average, analysts predict that Quanta Services, Inc. will post 7.91 EPS for the current fiscal year.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.