Hood River Capital Management LLC Has $22.16 Million Holdings in Quanta Services, Inc. (PWR)
Hood River Capital Management LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 673,233 shares of the construction company’s stock after purchasing an additional 15,620 shares during the quarter. Quanta Services comprises approximately 1.5% of Hood River Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Hood River Capital Management LLC owned about 0.45% of Quanta Services worth $22,163,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. UBS Asset Management Americas Inc. grew its holdings in Quanta Services by 0.9% in the first quarter. UBS Asset Management Americas Inc. now owns 111,775 shares of the construction company’s stock worth $4,148,000 after purchasing an additional 945 shares during the last quarter. Karp Capital Management Corp purchased a new position in Quanta Services in the first quarter worth $2,354,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Quanta Services by 29.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,218 shares of the construction company’s stock worth $416,000 after purchasing an additional 2,550 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Quanta Services by 2.5% in the first quarter. Mutual of America Capital Management LLC now owns 20,277 shares of the construction company’s stock worth $752,000 after purchasing an additional 503 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Quanta Services in the first quarter worth $260,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on PWR. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a report on Thursday, September 7th. BidaskClub lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Citigroup Inc. raised shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, August 18th. Zacks Investment Research lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, FBR & Co raised shares of Quanta Services to an “outperform” rating and lifted their price target for the stock from $40.00 to $45.00 in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $41.44.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total transaction of $316,350.00. Following the transaction, the executive vice president now directly owns 34,797 shares of the company’s stock, valued at approximately $1,223,114.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the transaction, the director now directly owns 7,506 shares in the company, valued at $259,032.06. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock worth $597,550 over the last three months. 0.70% of the stock is currently owned by insiders.
Shares of Quanta Services, Inc. (NYSE:PWR) traded up 0.16% during midday trading on Friday, hitting $37.12. 1,003,139 shares of the stock were exchanged. The stock has a 50 day moving average price of $35.47 and a 200-day moving average price of $34.41. Quanta Services, Inc. has a 12 month low of $24.88 and a 12 month high of $38.82. The company has a market cap of $5.76 billion, a PE ratio of 21.10 and a beta of 0.83.
Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business posted $0.18 earnings per share. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. On average, analysts predict that Quanta Services, Inc. will post $2.03 EPS for the current year.
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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