Quanta Services, Inc. (PWR) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in Quanta Services, Inc. (NYSE:PWR) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,004 shares of the construction company’s stock after selling 214 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Quanta Services were worth $362,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Segantii Capital Management Ltd purchased a new position in shares of Quanta Services in the first quarter valued at $115,000. Ameritas Investment Partners Inc. purchased a new position in shares of Quanta Services in the first quarter valued at $134,000. Bessemer Group Inc. increased its position in shares of Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after buying an additional 840 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Quanta Services by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after buying an additional 708 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in shares of Quanta Services by 129.4% in the second quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock valued at $190,000 after buying an additional 3,253 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.
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Shares of Quanta Services, Inc. (NYSE PWR) opened at 37.12 on Friday. Quanta Services, Inc. has a 1-year low of $24.88 and a 1-year high of $38.82. The company’s 50 day moving average price is $35.47 and its 200-day moving average price is $34.41. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 21.10 and a beta of 0.83.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. Equities analysts expect that Quanta Services, Inc. will post $2.03 EPS for the current fiscal year.
A number of research analysts have recently weighed in on the company. FBR & Co upgraded Quanta Services to an “outperform” rating and raised their price target for the company from $40.00 to $45.00 in a research report on Wednesday, August 9th. Zacks Investment Research cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research report on Friday, August 4th. Credit Suisse Group restated a “buy” rating and issued a $47.00 price target on shares of Quanta Services in a research report on Friday, August 4th. Finally, BidaskClub upgraded Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.44.
In other Quanta Services news, Director John Michal Conaway sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $35.79, for a total value of $143,160.00. Following the transaction, the director now owns 17,152 shares in the company, valued at $613,870.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total value of $316,350.00. Following the completion of the transaction, the executive vice president now owns 34,797 shares in the company, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock worth $597,550 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.
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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