FormulaFolio Investments LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,386 shares of the construction company’s stock, valued at approximately $762,000.
A number of other institutional investors have also bought and sold shares of PWR. UBS Asset Management Americas Inc. boosted its stake 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Quanta Services in the first quarter worth $134,000. United Services Automobile Association boosted its stake in Quanta Services by 3.1% in the first quarter. United Services Automobile Association now owns 46,885 shares of the construction company’s stock worth $1,740,000 after purchasing an additional 1,392 shares in the last quarter. Teachers Advisors LLC boosted its stake in Quanta Services by 7.1% in the first quarter. Teachers Advisors LLC now owns 587,452 shares of the construction company’s stock worth $21,800,000 after purchasing an additional 39,111 shares in the last quarter. Finally, Thrivent Financial For Lutherans acquired a new position in Quanta Services in the first quarter worth $206,000. 88.48% of the stock is currently owned by institutional investors.
Quanta Services, Inc. (NYSE PWR) traded up 0.75% during midday trading on Friday, reaching $37.45. The company had a trading volume of 1,197,380 shares. The stock has a 50-day moving average price of $36.92 and a 200 day moving average price of $34.51. The company has a market capitalization of $5.81 billion, a PE ratio of 21.29 and a beta of 0.83. Quanta Services, Inc. has a 12-month low of $27.29 and a 12-month high of $38.82.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. Equities analysts forecast that Quanta Services, Inc. will post $2.03 EPS for the current year.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday. Seaport Global Securities reaffirmed a “buy” rating and set a $45.00 price target (up previously from $41.00) on shares of Quanta Services in a research note on Wednesday, October 11th. FBR & Co raised Quanta Services to an “outperform” rating and upped their price target for the company from $40.00 to $45.00 in a research note on Wednesday, August 9th. BidaskClub raised Quanta Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, ValuEngine lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Quanta Services has an average rating of “Buy” and an average target price of $42.40.
In other news, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction dated Wednesday, August 23rd. The stock was 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 directly owns 7,506 shares of the company’s stock, valued at approximately $259,032.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 34,797 shares of the company’s stock, valued at $1,223,114.55. 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 ninety days. Company insiders own 0.70% of the company’s stock.
About Quanta Services
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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