Quanta Services Inc. (PWR) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its position in shares of Quanta Services Inc. (NYSE:PWR) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,315,026 shares of the company’s stock after buying an additional 317,847 shares during the period. Dimensional Fund Advisors LP owned about 2.76% of Quanta Services worth $99,754,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Assetmark Inc. increased its position in shares of Quanta Services by 2,638.5% in the second quarter. Assetmark Inc. now owns 4,984 shares of the company’s stock worth $116,000 after buying an additional 4,802 shares in the last quarter. Euclid Advisors LLC acquired a new position in shares of Quanta Services during the first quarter worth about $138,000. Acrospire Investment Management LLC increased its position in shares of Quanta Services by 79.1% in the second quarter. Acrospire Investment Management LLC now owns 7,700 shares of the company’s stock worth $178,000 after buying an additional 3,400 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of Quanta Services during the first quarter worth about $201,000. Finally, Invictus RG increased its position in shares of Quanta Services by 49.1% in the first quarter. Invictus RG now owns 12,711 shares of the company’s stock worth $287,000 after buying an additional 4,183 shares in the last quarter. Institutional investors own 87.80% of the company’s stock.
Shares of Quanta Services Inc. (NYSE:PWR) traded up 1.708% during trading on Wednesday, reaching $25.305. 786,380 shares of the company were exchanged. The company’s 50-day moving average is $25.44 and its 200 day moving average is $23.90. The firm has a market capitalization of $3.82 billion, a PE ratio of 17.098 and a beta of 0.67. Quanta Services Inc. has a 1-year low of $16.77 and a 1-year high of $27.05.
Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.18. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Quanta Services had a return on equity of 4.68% and a net margin of 3.38%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. Equities research analysts expect that Quanta Services Inc. will post $1.55 EPS for the current fiscal year.
A number of research analysts recently issued reports on the company. Credit Suisse Group AG restated a “buy” rating on shares of Quanta Services in a report on Saturday, June 4th. Deutsche Bank AG restated a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Stifel Nicolaus upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, August 5th. Finally, Citigroup Inc. cut their price objective on Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Quanta Services has a consensus rating of “Buy” and a consensus target price of $26.20.
In other news, EVP Randall C. Wisenbaker sold 5,121 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $26.36, for a total transaction of $134,989.56. Following the transaction, the executive vice president now directly owns 40,193 shares in the company, valued at $1,059,487.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.
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.
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