Quanta Services, Inc. $PWR Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,799 shares of the construction company’s stock after selling 2,415 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Quanta Services were worth $12,359,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Quanta Services in the 2nd quarter worth about $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Quanta Services by 57.2% in the second 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. increased its position in shares of Quanta Services by 69.3% in 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock valued at $7,519,079,000 after acquiring an additional 386,937 shares in the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in Quanta Services during the 3rd quarter worth $97,080,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PWR shares. Roth Mkm set a $500.00 target price on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Mizuho set a $415.00 price objective on shares of Quanta Services in a report on Tuesday, October 28th. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Finally, Evercore boosted their price target 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 research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $464.15.

Quanta Services Price Performance

Shares of NYSE PWR opened at $520.97 on Thursday. 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 $77.69 billion, a price-to-earnings ratio of 77.18, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $543.28. The business has a 50 day simple moving average of $460.55 and a 200-day simple moving average of $431.77.

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.