Bessemer Group Inc. Reduces Stock Holdings in Quanta Services, Inc. $PWR

Bessemer Group Inc. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 23.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 317,939 shares of the construction company’s stock after selling 99,267 shares during the quarter. Bessemer Group Inc.’s holdings in Quanta Services were worth $131,760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Freedom Day Solutions LLC purchased a new stake in Quanta Services in the 2nd quarter worth $2,465,000. Mediolanum International Funds Ltd boosted its stake in shares of Quanta Services by 15.5% in the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock worth $12,642,000 after acquiring an additional 4,451 shares during the period. Calamos Advisors LLC grew its position in shares of Quanta Services by 17.1% during the third quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock worth $43,680,000 after purchasing an additional 15,388 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Quanta Services by 59.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock valued at $18,397,000 after purchasing an additional 16,637 shares during the period. Finally, Chilton Capital Management LLC lifted its holdings in Quanta Services by 63.3% in the 3rd quarter. Chilton Capital Management LLC now owns 166,536 shares of the construction company’s stock worth $69,016,000 after purchasing an additional 64,560 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PWR shares. Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Cantor Fitzgerald assumed coverage on shares of Quanta Services in a report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price objective for the company. Sanford C. Bernstein reduced their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a report on Friday, December 19th. The Goldman Sachs Group set a $495.00 price target on Quanta Services in a research note on Monday, November 24th. Finally, Evercore ISI 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. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $462.00.

Quanta Services Stock Performance

NYSE:PWR opened at $475.92 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The stock’s fifty day moving average is $450.00 and its 200 day moving average is $424.58. The firm has a market capitalization of $70.97 billion, a PE ratio of 70.51, a PEG ratio of 2.25 and a beta of 1.15. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $492.80.

About Quanta Services

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.