Quanta Services, Inc. $PWR Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 43.3% in the third quarter, Holdings Channel reports. The fund owned 33,490 shares of the construction company’s stock after buying an additional 10,121 shares during the period. NEOS Investment Management LLC’s holdings in Quanta Services were worth $13,876,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at about $26,000. Activest Wealth Management boosted its holdings in 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 in the last quarter. Solstein Capital LLC increased its stake in Quanta Services by 185.7% in the second 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. Cornerstone Planning Group LLC raised 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 in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the 2nd quarter worth approximately $37,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PWR. Roth Mkm set a $500.00 target price on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $490.00 price objective on Quanta Services in a report on Friday, October 31st. Argus set a $540.00 target price on Quanta Services in a report on Friday, October 31st. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $457.00 to $515.00 in a research note on Monday, December 8th. Finally, Weiss Ratings upgraded Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $464.15.

Quanta Services Price Performance

Quanta Services stock opened at $525.16 on Wednesday. The business has a 50 day simple moving average of $459.38 and a 200-day simple moving average of $431.14. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month 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 stock has a market capitalization of $78.31 billion, a PE ratio of 77.80, a price-to-earnings-growth ratio of 2.54 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.