Janus Henderson Group PLC Buys New Holdings in Quanta Services, Inc. (PWR)
Janus Henderson Group PLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,120,336 shares of the construction company’s stock, valued at approximately $36,881,000. Janus Henderson Group PLC owned approximately 0.72% of Quanta Services as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PWR. UBS Asset Management Americas Inc. grew its holdings in shares of Quanta Services by 0.9% during the first quarter. UBS Asset Management Americas Inc. now owns 111,775 shares of the construction company’s stock worth $4,148,000 after buying an additional 945 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Quanta Services during the first quarter worth $134,000. United Services Automobile Association grew its holdings in shares of Quanta Services by 3.1% during the first quarter. United Services Automobile Association now owns 46,885 shares of the construction company’s stock worth $1,740,000 after buying an additional 1,392 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Quanta Services by 7.1% during the first quarter. Teachers Advisors LLC now owns 587,452 shares of the construction company’s stock worth $21,800,000 after buying an additional 39,111 shares in the last quarter. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of Quanta Services during the first quarter worth $206,000. 88.48% of the stock is owned by institutional investors and hedge funds.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the completion of the sale, the executive vice president now owns 34,797 shares in the company, valued at approximately $1,223,114.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total value of $138,040.00. Following the completion of the sale, the director now owns 7,506 shares of the company’s stock, valued at approximately $259,032.06. The disclosure for this sale can be found here. Insiders sold a total of 17,000 shares of company stock valued at $597,550 in the last 90 days. 0.70% of the stock is owned by company insiders.
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Shares of Quanta Services, Inc. (NYSE PWR) opened at 37.29 on Monday. Quanta Services, Inc. has a one year low of $27.29 and a one year high of $38.82. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 21.20 and a beta of 0.83. The company has a 50 day moving average of $36.70 and a 200-day moving average of $34.46.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. On average, analysts anticipate that Quanta Services, Inc. will post $2.03 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reaffirmed a “hold” rating and set a $39.00 target price on shares of Quanta Services in a report on Friday, October 6th. Zacks Investment Research lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, October 9th. ValuEngine lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Seaport Global Securities reissued a “buy” rating and issued a $45.00 price objective (up previously from $41.00) on shares of Quanta Services in a report on Wednesday, October 11th. Finally, FBR & Co raised shares of Quanta Services to an “outperform” rating and upped their price objective for the company from $40.00 to $45.00 in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Quanta Services presently has an average rating of “Buy” and a consensus price target of $41.90.
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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