Northeast Investment Management Has $2.54 Million Stock Holdings in Quanta Services, Inc. $PWR

Northeast Investment Management lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 142.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,129 shares of the construction company’s stock after purchasing an additional 3,605 shares during the quarter. Northeast Investment Management’s holdings in Quanta Services were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. Brighton Jones LLC bought a new position in shares of Quanta Services in the fourth quarter worth about $298,000. Woodline Partners LP increased its holdings in shares of Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after purchasing an additional 3,606 shares in the last quarter. Private Trust Co. NA raised its position in Quanta Services by 29.4% in the 2nd quarter. Private Trust Co. NA now owns 946 shares of the construction company’s stock worth $358,000 after purchasing an additional 215 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Quanta Services during the 2nd quarter worth $763,000. Finally, Phoenix Financial Ltd. bought a new position in Quanta Services in the 2nd quarter valued at $2,511,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.2%

Quanta Services stock opened at $525.16 on Wednesday. The firm has a market capitalization of $78.31 billion, a price-to-earnings ratio of 77.80, a PEG ratio of 2.54 and a beta of 1.15. The company’s 50 day simple moving average is $459.38 and its 200 day simple moving average is $431.14. 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 fifty-two week low of $227.08 and a fifty-two week high of $543.28.

Analyst Ratings Changes

PWR has been the subject of a number of recent research reports. Cantor Fitzgerald began 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. Jefferies Financial Group dropped their price objective on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Mizuho set a $415.00 target price on shares of Quanta Services in a research report on Tuesday, October 28th. Stifel Nicolaus lifted their price target on shares of Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $457.00 to $515.00 in a report on Monday, December 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $464.15.

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.