Quantbot Technologies LP Increases Stake in Quanta Services, Inc. (PWR)
Quantbot Technologies LP grew its position in Quanta Services, Inc. (NYSE:PWR) by 67.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,608 shares of the construction company’s stock after purchasing an additional 29,685 shares during the period. Quantbot Technologies LP’s holdings in Quanta Services were worth $2,750,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PWR. Victory Capital Management Inc. increased its holdings in shares of Quanta Services by 38.6% in the second quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock valued at $207,871,000 after purchasing an additional 1,758,319 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Quanta Services in the second quarter valued at about $36,881,000. Renaissance Technologies LLC acquired a new position in shares of Quanta Services in the second quarter valued at about $35,076,000. Russell Investments Group Ltd. increased its holdings in shares of Quanta Services by 159.7% in the third quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after purchasing an additional 580,382 shares during the period. Finally, Capital Fund Management S.A. increased its holdings in shares of Quanta Services by 1,837.5% in the second quarter. Capital Fund Management S.A. now owns 559,760 shares of the construction company’s stock valued at $18,427,000 after purchasing an additional 530,869 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Quanta Services, Inc. (PWR) traded up $0.62 during mid-day trading on Friday, reaching $35.97. The company’s stock had a trading volume of 1,703,600 shares, compared to its average volume of 1,573,559. The stock has a market capitalization of $5,469.38, a P/E ratio of 18.51, a P/E/G ratio of 2.49 and a beta of 0.87. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. Quanta Services, Inc. has a 52 week low of $30.23 and a 52 week high of $38.82.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.30 billion. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. Quanta Services’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. equities research analysts anticipate that Quanta Services, Inc. will post 1.77 EPS for the current year.
PWR has been the topic of a number of research reports. Zacks Investment Research raised Quanta Services from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Monday, October 16th. Robert W. Baird restated a “hold” rating and issued a $39.00 target price on shares of Quanta Services in a research note on Friday, October 6th. BidaskClub downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a research note on Friday, August 4th. Finally, Seaport Global Securities restated a “buy” rating and issued a $45.00 target price (up previously from $41.00) on shares of Quanta Services in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Quanta Services currently has a consensus rating of “Buy” and a consensus price target of $44.55.
In other news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the transaction, the executive vice president now owns 34,797 shares in the company, valued at $1,223,114.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 7,506 shares in the company, valued at approximately $259,032.06. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
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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