Objectivity Squared LLC Raises Holdings in Quanta Services, Inc. $PWR

Objectivity Squared LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 132.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,562 shares of the construction company’s stock after purchasing an additional 2,031 shares during the period. Quanta Services comprises 0.9% of Objectivity Squared LLC’s investment portfolio, making the stock its 20th largest position. Objectivity Squared LLC’s holdings in Quanta Services were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PWR. Petros Family Wealth LLC increased its stake in shares of Quanta Services by 2.2% in the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock worth $456,000 after buying an additional 24 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in shares of Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after acquiring an additional 26 shares during the last quarter. Carr Financial Group Corp boosted its holdings in shares of Quanta Services by 1.8% during the third quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock worth $610,000 after purchasing an additional 26 shares during the period. Kathmere Capital Management LLC grew its stake in shares of Quanta Services by 2.8% in the third quarter. Kathmere Capital Management LLC now owns 961 shares of the construction company’s stock worth $398,000 after purchasing an additional 26 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in Quanta Services by 9.8% during the 3rd quarter. Westside Investment Management Inc. now owns 292 shares of the construction company’s stock valued at $122,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 1.5%

Shares of NYSE PWR opened at $523.75 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $543.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The firm has a 50-day moving average of $456.82 and a 200 day moving average of $429.14. The stock has a market cap of $78.10 billion, a P/E ratio of 77.59, a price-to-earnings-growth ratio of 2.50 and a beta of 1.15.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PWR. Sanford C. Bernstein cut their price objective on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $457.00 to $515.00 in a report on Monday, December 8th. Evercore upped their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Argus set a $540.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Finally, Mizuho set a $415.00 price target on shares of Quanta Services in a research note on Tuesday, October 28th. Thirteen 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 stock presently has an average 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.