Envestnet Asset Management Inc. Sells 4,085 Shares of Quanta Services, Inc. $PWR

Envestnet Asset Management Inc. reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 183,247 shares of the construction company’s stock after selling 4,085 shares during the period. Envestnet Asset Management Inc.’s holdings in Quanta Services were worth $75,941,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Copia Wealth Management grew its stake in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Quanta Services during the second quarter valued at about $26,000. Activest Wealth Management grew its position in shares of Quanta Services by 94.1% in the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Solstein Capital LLC increased its stake in shares of Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Finally, Cornerstone Planning Group LLC lifted its position in shares of Quanta Services by 213.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 6.3%

NYSE:PWR opened at $507.87 on Monday. The stock’s fifty day moving average price is $450.86 and its two-hundred day moving average price is $425.70. The company has a market cap of $75.73 billion, a price-to-earnings ratio of 75.24, a P/E/G ratio of 2.46 and a beta of 1.15. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $508.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

Analyst Ratings Changes

PWR has been the subject of several research reports. Citigroup increased their target price on shares of Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Robert W. Baird set a $490.00 price objective on Quanta Services in a research report on Friday, October 31st. Evercore boosted their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Roth Mkm set a $500.00 target price on Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $462.00.

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.