Quanta Services, Inc. (NYSE:PWR) Shares Sold by ING Groep NV
ING Groep NV decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 7,587 shares of the construction company’s stock after selling 127 shares during the period. ING Groep NV’s holdings in Quanta Services were worth $250,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of PWR. Teachers Advisors LLC boosted its position in Quanta Services by 51.4% in the fourth quarter. Teachers Advisors LLC now owns 548,341 shares of the construction company’s stock valued at $19,110,000 after buying an additional 186,047 shares during the last quarter. Macquarie Group Ltd. boosted its position in Quanta Services by 0.3% in the fourth quarter. Macquarie Group Ltd. now owns 119,900 shares of the construction company’s stock valued at $4,179,000 after buying an additional 300 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Quanta Services during the first quarter valued at $901,000. Kissinger Financial Services LLC boosted its position in Quanta Services by 12.7% in the first quarter. Kissinger Financial Services LLC now owns 8,594 shares of the construction company’s stock valued at $319,000 after buying an additional 968 shares during the last quarter. Finally, Navellier & Associates Inc boosted its position in Quanta Services by 5.5% in the first quarter. Navellier & Associates Inc now owns 145,804 shares of the construction company’s stock valued at $5,411,000 after buying an additional 7,621 shares during the last quarter. 89.40% of the stock is owned by institutional investors.
Quanta Services, Inc. (NYSE:PWR) traded down 0.20% during trading on Friday, reaching $35.61. 1,507,251 shares of the company’s stock traded hands. The company has a 50-day moving average price of $33.83 and a 200 day moving average price of $34.77. The firm has a market capitalization of $5.53 billion, a PE ratio of 20.24 and a beta of 0.84. Quanta Services, Inc. has a one year low of $24.49 and a one year high of $38.82.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 3rd. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.03. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $0.18 EPS. Quanta Services’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, analysts anticipate that Quanta Services, Inc. will post $2.03 earnings per share for the current fiscal year.
Quanta Services announced that its board has initiated a share buyback program on Thursday, May 25th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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PWR has been the subject of several research analyst reports. TheStreet cut shares of Quanta Services from a “b” rating to a “c+” rating in a research note on Friday, May 26th. ValuEngine upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Quanta Services from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $43.00 price objective on shares of Quanta Services in a research report on Friday, July 7th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Quanta Services presently has a consensus rating of “Buy” and an average price target of $41.11.
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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