Meyer Handelman Co. maintained its stake in shares of Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,600 shares of the construction company’s stock at the end of the second quarter. Meyer Handelman Co.’s holdings in Quanta Services were worth $415,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Quanta Services by 4.2% in the second quarter. US Bancorp DE now owns 7,641 shares of the construction company’s stock worth $252,000 after buying an additional 307 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Quanta Services by 37.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 615,660 shares of the construction company’s stock worth $20,268,000 after buying an additional 167,146 shares in the last quarter. Aperio Group LLC increased its stake in shares of Quanta Services by 9.7% in the second quarter. Aperio Group LLC now owns 69,592 shares of the construction company’s stock worth $2,291,000 after buying an additional 6,155 shares in the last quarter. Beech Hill Advisors Inc. purchased a new stake in shares of Quanta Services during the second quarter worth approximately $1,792,000. Finally, Alpha Windward LLC increased its stake in shares of Quanta Services by 10.4% in the second quarter. Alpha Windward LLC now owns 15,510 shares of the construction company’s stock worth $511,000 after buying an additional 1,460 shares in the last quarter. 89.03% of the stock is currently owned by institutional investors.
Quanta Services, Inc. (PWR) traded up 0.92% on Friday, hitting $33.05. 2,135,566 shares of the company were exchanged. The firm has a 50 day moving average of $32.47 and a 200-day moving average of $34.75. The stock has a market cap of $5.03 billion, a PE ratio of 22.84 and a beta of 0.84. Quanta Services, Inc. has a 52-week low of $23.22 and a 52-week high of $38.82.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 4th. The construction company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.01 billion. Quanta Services had a net margin of 2.79% and a return on equity of 7.08%. The business’s revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, equities analysts expect that Quanta Services, Inc. will post $1.95 earnings per share for the current fiscal year.
Quanta Services announced that its Board of Directors has initiated a share repurchase program on Thursday, May 25th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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A number of equities research analysts have commented on the stock. BidaskClub raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. UBS AG raised shares of Quanta Services from a “neutral” rating to a “buy” rating and increased their target price for the company from $38.00 to $42.00 in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. TheStreet raised shares of Quanta Services from a “c+” rating to a “b-” rating in a research report on Friday, July 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $43.00 target price on shares of Quanta Services in a research report on Friday, July 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Quanta Services has an average rating of “Buy” and an average target price of $39.13.
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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