Rhumbline Advisers trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,174 shares of the construction company’s stock after selling 4,469 shares during the quarter. Rhumbline Advisers owned about 0.17% of Quanta Services worth $9,386,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Quanta Services by 21.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,300 shares of the construction company’s stock worth $1,917,000 after buying an additional 8,970 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Quanta Services by 5.4% in the third quarter. Toronto Dominion Bank now owns 50,963 shares of the construction company’s stock worth $1,903,000 after buying an additional 2,609 shares during the last quarter. CI Investments Inc. acquired a new stake in shares of Quanta Services in the third quarter worth $11,529,000. BNP Paribas Arbitrage SA lifted its stake in shares of Quanta Services by 31.9% in the third quarter. BNP Paribas Arbitrage SA now owns 81,665 shares of the construction company’s stock worth $3,052,000 after buying an additional 19,767 shares during the last quarter. Finally, HL Financial Services LLC acquired a new stake in shares of Quanta Services in the third quarter worth $496,000. Institutional investors and hedge funds own 85.39% of the company’s stock.
A number of analysts have recently weighed in on PWR shares. FBR & Co upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $45.00 in a research note on Thursday, August 3rd. Johnson Rice upgraded shares of Quanta Services from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $43.00 in a research note on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price objective on shares of Quanta Services in a research note on Friday, August 4th. Credit Suisse Group restated a “buy” rating and issued a $47.00 price objective on shares of Quanta Services in a research note on Friday, August 4th. Finally, BidaskClub upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $44.55.
In related news, EVP Randall C. Wisenbaker sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total transaction of $316,350.00. Following the completion of the transaction, the executive vice president now directly owns 34,797 shares in the company, valued at approximately $1,223,114.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.
Quanta Services, Inc. (NYSE PWR) traded down $0.34 during trading hours on Monday, reaching $36.13. 369,100 shares of the company traded hands, compared to its average volume of 1,562,755. The firm has a market cap of $5,590.07, a PE ratio of 18.92, a P/E/G ratio of 2.55 and a beta of 0.87. Quanta Services, Inc. has a 1 year low of $30.23 and a 1 year high of $38.82. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.20.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. research analysts forecast that Quanta Services, Inc. will post 1.77 EPS for the current fiscal year.
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Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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