Signet Financial Management LLC purchased a new stake in Quanta Services Inc (NYSE:PWR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 91,385 shares of the construction company’s stock, valued at approximately $3,454,000. Signet Financial Management LLC owned 0.06% of Quanta Services at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Quanta Services by 8.2% in the 1st quarter. Jennison Associates LLC now owns 2,209,785 shares of the construction company’s stock valued at $83,397,000 after purchasing an additional 166,566 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Quanta Services by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock valued at $62,379,000 after buying an additional 105,481 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new position in Quanta Services during the 2nd quarter worth approximately $67,213,000. Neuberger Berman Group LLC lifted its position in Quanta Services by 30.4% during the 1st quarter. Neuberger Berman Group LLC now owns 1,676,383 shares of the construction company’s stock worth $63,267,000 after acquiring an additional 390,856 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Quanta Services by 122.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,445,442 shares of the construction company’s stock worth $55,201,000 after acquiring an additional 796,195 shares during the period. 85.93% of the stock is owned by institutional investors.
Shares of PWR traded down $0.13 during trading hours on Wednesday, hitting $38.14. 2,101,897 shares of the stock were exchanged, compared to its average volume of 1,120,505. The stock’s 50-day moving average price is $34.44 and its two-hundred day moving average price is $36.83. Quanta Services Inc has a 12-month low of $27.90 and a 12-month high of $41.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.93 and a current ratio of 1.97. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 15.08 and a beta of 1.18.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.45). Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the firm earned $0.59 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that Quanta Services Inc will post 2.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. Quanta Services’s dividend payout ratio is currently 6.32%.
A number of analysts have recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Stephens set a $42.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, August 16th. Citigroup lifted their price target on shares of Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Vertical Research started coverage on shares of Quanta Services in a research report on Friday, August 23rd. They issued a “buy” rating and a $41.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $43.29.
Quanta Services Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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