Applied Finance Capital Management LLC Sells 20,747 Shares of Quanta Services, Inc. $PWR

Applied Finance Capital Management LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 29.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,604 shares of the construction company’s stock after selling 20,747 shares during the period. Quanta Services accounts for 1.5% of Applied Finance Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Applied Finance Capital Management LLC’s holdings in Quanta Services were worth $20,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PWR. Copia Wealth Management raised its position in shares of Quanta Services by 509.1% during the second 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 position in Quanta Services during the second quarter valued at about $26,000. Activest Wealth Management raised its holdings in Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 32 shares in the last quarter. Solstein Capital LLC lifted its position in shares of Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the period. Finally, Cornerstone Planning Group LLC grew its holdings 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 in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Argus set a $540.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Roth Mkm set a $500.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Stifel Nicolaus lifted their price objective on Quanta Services from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, January 26th. Sanford C. Bernstein dropped their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Finally, Citigroup boosted their price target on Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

Quanta Services Trading Up 1.2%

Shares of PWR opened at $514.46 on Tuesday. The stock’s fifty day simple moving average is $452.10 and its 200-day simple moving average is $426.45. The firm has a market capitalization of $76.72 billion, a PE ratio of 76.22, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $520.42. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

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.