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

Applied Finance Capital Management LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 29.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,604 shares of the construction company’s stock after selling 20,747 shares during the quarter. Quanta Services makes up about 1.5% of Applied Finance Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Applied Finance Capital Management LLC’s holdings in Quanta Services were worth $20,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. Copia Wealth Management raised its position in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services during the 2nd quarter worth about $26,000. Activest Wealth Management raised its holdings in shares of 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 purchasing an additional 32 shares during the period. Solstein Capital LLC lifted its stake in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Quanta Services by 213.0% during the third 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 period. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PWR. Roth Mkm set a $500.00 target price on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. raised 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 research report on Monday, December 8th. Jefferies Financial Group reduced their target price on shares of 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 price target on shares of Quanta Services in a research note on Tuesday, October 28th. Finally, Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research report on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $462.00.

Quanta Services Stock Up 1.2%

Shares of PWR opened at $514.46 on Tuesday. The firm has a 50 day simple moving average of $452.10 and a two-hundred day simple moving average of $426.45. 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 one year low of $227.08 and a one year high of $520.42. The company has a market cap of $76.72 billion, a P/E ratio of 76.22, a P/E/G ratio of 2.46 and a beta of 1.15.

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.