Dynamic Technology Lab Private Ltd Buys New Stake in Quanta Services Inc. (PWR)
Dynamic Technology Lab Private Ltd bought a new stake in shares of Quanta Services Inc. (NYSE:PWR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,103 shares of the company’s stock, valued at approximately $396,000.
Several other institutional investors have also added to or reduced their stakes in PWR. Assetmark Inc. raised its position in Quanta Services by 2,638.5% in the second quarter. Assetmark Inc. now owns 4,984 shares of the company’s stock valued at $116,000 after buying an additional 4,802 shares in the last quarter. Euclid Advisors LLC acquired a new position in Quanta Services during the first quarter valued at approximately $138,000. Acrospire Investment Management LLC raised its position in Quanta Services by 79.1% in the second quarter. Acrospire Investment Management LLC now owns 7,700 shares of the company’s stock valued at $178,000 after buying an additional 3,400 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Quanta Services during the first quarter valued at approximately $201,000. Finally, Invictus RG raised its position in Quanta Services by 49.1% in the first quarter. Invictus RG now owns 12,711 shares of the company’s stock valued at $287,000 after buying an additional 4,183 shares in the last quarter. 87.80% of the stock is currently owned by institutional investors.
Quanta Services Inc. (NYSE:PWR) opened at 25.94 on Friday. The company’s 50-day moving average is $25.47 and its 200-day moving average is $23.92. Quanta Services Inc. has a 12 month low of $16.77 and a 12 month high of $27.05. The stock has a market capitalization of $3.92 billion, a PE ratio of 17.53 and a beta of 0.67.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.18. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Quanta Services had a net margin of 3.38% and a return on equity of 4.68%. Quanta Services’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. Equities research analysts forecast that Quanta Services Inc. will post $1.55 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Credit Suisse Group AG reissued a “buy” rating on shares of Quanta Services in a report on Saturday, June 4th. Zacks Investment Research raised shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Stifel Nicolaus raised shares of 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 target on shares of Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.65.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 5,121 shares of the business’s stock in a transaction 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 owns 40,193 shares in the company, valued at $1,059,487.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.
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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