Alkeon Capital Management Reduces $68M in Quanta Services, Inc. ($PWR)
Key Points
- Alkeon Capital Management changed its Quanta Services, Inc. ($PWR) stake by 20.0% last quarter, cutting to 400,983 shares worth $273.99 million.
- Wall Street's consensus rating on $PWR is Buy and an average price target of $761.35.
- $PWR last traded around $683.29.
Alkeon Capital Management reduced its position in Quanta Services, Inc. ($PWR) by 20.0% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,983 shares of Quanta Services, Inc. after selling 100,000 shares during the quarter. Alkeon Capital Management's holdings in Quanta Services, Inc. were worth $273.99 million as of its most recent filing.
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About Quanta Services, Inc.
Quanta Services, Inc. offers infrastructure solutions for the electric and gas utility, power generation, load center, manufacturing, communications, pipeline, and energy industries. The company's Electric Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings. This segment offers aviation; emergency aerial firefighting services; emergency restoration; and other engineering and technical services; design and construction solutions to wireline and wireless communications, cable multi-system operators, technology companies, and other customers; engineering, procurement, new construction, and repair and maintenance services for renewable generation facilities; and training for electric workers, as well as training for the gas distribution and communications industries. Its Underground Utility and Infrastructure Solutions segment is involved in the transportation, distribution, storage, development, and processing of natural gas, oil, and other products, as well as owns and operates large load centers. This segment also engages in the design, engineering, procurement, construction, upgrade, and repair and maintenance services for natural gas systems; pipeline protection, integrity testing, rehabilitation, and replacement services; and catalyst replacement, high-pressure and critical-path turnaround, instrumentation and electrical, piping, fabrication, and storage tank services. The company was formerly known as Fabal Construction, Inc. and changed its name to Quanta Services, Inc. in November 1997. The company was incorporated in 1997 and is headquartered in Houston, Texas.
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