HL Financial Services LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,282 shares of the construction company’s stock, valued at approximately $496,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in shares of Quanta Services by 182.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after buying an additional 2,190 shares during the period. Bessemer Group Inc. lifted its stake in shares of Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after buying an additional 840 shares during the period. Commonwealth Bank of Australia bought a new stake in shares of Quanta Services in the second quarter valued at about $164,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Quanta Services by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after buying an additional 708 shares during the period. Finally, Global X Management Co. LLC lifted its stake in shares of Quanta Services by 129.4% in the second quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock valued at $190,000 after buying an additional 3,253 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.
In other news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the sale, the director now directly owns 7,506 shares of the company’s stock, valued at approximately $259,032.06. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2017/11/14/hl-financial-services-llc-invests-496000-in-quanta-services-inc-pwr.html.
Shares of Quanta Services, Inc. (NYSE:PWR) opened at $36.72 on Tuesday. The firm has a market cap of $5,545.19, a P/E ratio of 18.76, a PEG ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.80 and a current ratio of 1.85. Quanta Services, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $38.82.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates 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 was up 27.8% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. equities research analysts forecast that Quanta Services, Inc. will post 1.77 EPS for the current year.
Several equities research analysts recently weighed in on PWR shares. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a research note on Thursday, September 7th. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 target price on shares of Quanta Services in a research note on Friday, August 4th. B. Riley increased their target price on shares of Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Johnson Rice upgraded shares of Quanta Services from an “accumulate” rating to a “buy” rating and increased their target price for the company from $41.00 to $43.00 in a research note on Friday, August 4th. Finally, FBR & Co upgraded shares of Quanta Services to an “outperform” rating and raised their price target for the stock from $40.00 to $45.00 in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.55.
About Quanta Services
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.