Wesbanco Bank Inc. trimmed its position in shares of Quanta Services Inc (NYSE:PWR) by 91.8% during the 4th quarter, Holdings Channel reports. The firm owned 9,406 shares of the construction company’s stock after selling 104,832 shares during the quarter. Wesbanco Bank Inc.’s holdings in Quanta Services were worth $368,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of PWR. Janus Henderson Group PLC bought a new position in Quanta Services during the 2nd quarter valued at about $36,881,000. Jennison Associates LLC grew its holdings in Quanta Services by 39.9% during the 4th quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock valued at $132,550,000 after purchasing an additional 966,316 shares during the last quarter. Cannell Peter B & Co. Inc. bought a new position in Quanta Services during the 3rd quarter valued at about $34,283,000. Russell Investments Group Ltd. grew its holdings in Quanta Services by 159.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after purchasing an additional 580,382 shares during the last quarter. Finally, Anchor Bolt Capital LP bought a new position in Quanta Services during the 3rd quarter valued at about $15,777,000. Institutional investors own 86.08% of the company’s stock.
Quanta Services Inc (PWR) opened at $36.09 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. The company has a market cap of $5,919.62, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. Quanta Services Inc has a one year low of $30.23 and a one year high of $40.10.
Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. sell-side analysts anticipate that Quanta Services Inc will post 1.77 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. Stephens reiterated a “buy” rating and set a $49.00 price target on shares of Quanta Services in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a report on Friday, January 26th. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Robert W. Baird set a $42.00 price target on shares of Quanta Services and gave the company a “hold” rating in a report on Wednesday, January 3rd. Finally, KeyCorp reiterated a “buy” rating and set a $46.00 price target on shares of Quanta Services in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $45.08.
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Quanta Services 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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