Cipher Capital LP reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 27.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 156,880 shares of the construction company’s stock after selling 58,130 shares during the quarter. Cipher Capital LP owned 0.10% of Quanta Services worth $5,863,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Thrivent Financial For Lutherans purchased a new stake in Quanta Services during the 1st quarter worth approximately $206,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Quanta Services during the 1st quarter worth approximately $716,000. LS Investment Advisors LLC increased its stake in Quanta Services by 14.0% during the 2nd quarter. LS Investment Advisors LLC now owns 9,566 shares of the construction company’s stock worth $315,000 after buying an additional 1,173 shares during the period. Aperio Group LLC increased its stake in Quanta Services by 9.7% during the 2nd 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 during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in Quanta Services by 37.3% during the 2nd 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 during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.
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Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Johnson Rice raised shares of Quanta Services from an “accumulate” rating to a “buy” rating and increased their price objective for the company from $41.00 to $43.00 in a research report on Friday, August 4th. BidaskClub raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group reissued a “buy” rating and issued a $46.00 price objective on shares of Quanta Services in a research report on Wednesday, July 26th. Finally, Robert W. Baird downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $41.00 to $38.00 in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.55.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 34,797 shares in the company, valued at approximately $1,223,114.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the transaction, the director now owns 7,506 shares of the company’s stock, valued at $259,032.06. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Quanta Services, Inc. (NYSE:PWR) traded up $0.62 during mid-day trading on Friday, hitting $35.97. 1,703,600 shares of the stock traded hands, compared to its average volume of 1,573,559. Quanta Services, Inc. has a one year low of $30.23 and a one year high of $38.82. The firm has a market cap of $5,469.38, a PE ratio of 18.51, a PEG ratio of 2.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS 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 analysts’ expectations of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business’s revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS. equities research analysts forecast that Quanta Services, Inc. will post 1.77 earnings per share for the current year.
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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