Nationwide Fund Advisors Boosts Position in Quanta Services Inc. (PWR)
Nationwide Fund Advisors increased its position in shares of Quanta Services Inc. (NYSE:PWR) by 39.2% during the second quarter, Holdings Channel reports. The firm owned 92,882 shares of the company’s stock after buying an additional 26,134 shares during the period. Nationwide Fund Advisors owned approximately 0.06% of Quanta Services worth $2,147,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Assetmark Inc. boosted its stake 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 during the period. Euclid Advisors LLC bought a new stake in shares of Quanta Services during the first quarter worth $138,000. BlueMountain Capital Management LLC bought a new stake in shares of Quanta Services during the first quarter worth $201,000. Invictus RG boosted its stake 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 during the period. Finally, Ngam Advisors L.P. boosted its stake in shares of Quanta Services by 3.1% in the second quarter. Ngam Advisors L.P. now owns 13,503 shares of the company’s stock worth $312,000 after buying an additional 403 shares during the period. 87.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Quanta Services Inc. (NYSE:PWR) traded down 1.50% on Thursday, reaching $27.58. 560,777 shares of the company’s stock traded hands. The company has a 50 day moving average price of $26.50 and a 200 day moving average price of $24.47. Quanta Services Inc. has a 52 week low of $16.77 and a 52 week high of $28.87. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 18.64 and a beta of 0.69.
Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The business earned $1.15 billion during the quarter, compared to analyst estimates 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 for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, equities research analysts predict that Quanta Services Inc. will post $1.55 earnings per share for the current fiscal year.
PWR has been the subject of a number of research reports. Stifel Nicolaus raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Friday, August 5th. Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday, October 5th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $26.00 target price on shares of Quanta Services in a report on Monday, August 8th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Finally, Citigroup Inc. reduced their target price on shares of Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $27.05.
In other news, EVP Randall C. Wisenbaker sold 5,121 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $26.36, for a total value of $134,989.56. Following the transaction, the executive vice president now owns 40,193 shares of the company’s stock, valued at approximately $1,059,487.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.
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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