BNP Paribas Arbitrage SA boosted its position in Quanta Services, Inc. (NYSE:PWR) by 31.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,665 shares of the construction company’s stock after purchasing an additional 19,767 shares during the period. BNP Paribas Arbitrage SA owned about 0.05% of Quanta Services worth $3,052,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in 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 purchasing an additional 2,190 shares during the period. Bessemer Group Inc. increased its holdings in 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 in the last quarter. Commonwealth Bank of Australia purchased a new position in Quanta Services in the second quarter valued at about $164,000. Thrivent Financial For Lutherans purchased a new position in Quanta Services in the first quarter valued at about $206,000. Finally, Intact Investment Management Inc. purchased a new position in Quanta Services in the third quarter valued at about $209,000. Hedge funds and other institutional investors own 85.39% of the company’s stock.
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Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $0.55 earnings per share. Quanta Services’s revenue was up 27.8% compared to the same quarter last year. analysts forecast that Quanta Services, Inc. will post 1.77 EPS for the current year.
PWR has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a report on Thursday, September 7th. Citigroup Inc. set a $47.00 target price on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 27th. Credit Suisse Group reaffirmed a “buy” rating and issued a $47.00 target price on shares of Quanta Services in a report on Friday, August 4th. Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, July 24th. Finally, BidaskClub cut shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $44.55.
In related news, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the sale, the director now owns 7,506 shares in the company, valued at $259,032.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total transaction of $316,350.00. Following the sale, the executive vice president now owns 34,797 shares in the company, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.
Quanta Services 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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