Dynamic Technology Lab Private Ltd decreased its holdings in shares of Quanta Services Inc (NYSE:PWR) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,955 shares of the construction company’s stock after selling 2,433 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Quanta Services were worth $1,934,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of PWR. Dupont Capital Management Corp boosted its stake in Quanta Services by 202.9% during the second quarter. Dupont Capital Management Corp now owns 4,086 shares of the construction company’s stock valued at $136,000 after buying an additional 2,737 shares during the period. CKW Financial Group bought a new stake in Quanta Services during the third quarter valued at $142,000. Engineers Gate Manager LP bought a new stake in Quanta Services during the second quarter valued at $204,000. Cadence Bank NA bought a new stake in Quanta Services during the third quarter valued at $212,000. Finally, Edgestream Partners L.P. bought a new stake in Quanta Services during the third quarter valued at $213,000. 87.50% of the stock is owned by institutional investors.
Shares of PWR stock opened at $32.65 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.81. Quanta Services Inc has a 12-month low of $30.25 and a 12-month high of $40.10. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.67 and a beta of 0.88.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.09). Quanta Services had a return on equity of 8.57% and a net margin of 3.32%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts anticipate that Quanta Services Inc will post 2.51 earnings per share for the current fiscal year.
Quanta Services announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating in a research note on Friday, August 31st. Robert W. Baird dropped their price objective on Quanta Services from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. Citigroup dropped their price objective on Quanta Services from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Cfra reissued a “buy” rating and set a $40.00 price objective on shares of Quanta Services in a research note on Thursday, September 6th. Finally, ValuEngine raised Quanta Services from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Quanta Services presently has an average rating of “Buy” and a consensus target price of $44.80.
TRADEMARK VIOLATION NOTICE: “Quanta Services Inc (PWR) Shares Sold by Dynamic Technology Lab Private Ltd” was posted by Transcript Daily and is the property of of Transcript Daily. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://transcriptdaily.com/2018/12/07/quanta-services-inc-pwr-shares-sold-by-dynamic-technology-lab-private-ltd.html.
About Quanta Services
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services Inc (NYSE:PWR).
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.