Suffolk Capital Management LLC bought a new stake in Quanta Services Inc. (NYSE:PWR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,509 shares of the company’s stock, valued at approximately $1,022,000.
Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can boosted its stake in Quanta Services by 125.0% in the third quarter. Bank of Montreal Can now owns 3,779,803 shares of the company’s stock valued at $105,797,000 after buying an additional 2,100,263 shares during the last quarter. Trillium Asset Management LLC boosted its stake in Quanta Services by 2.6% in the second quarter. Trillium Asset Management LLC now owns 637,387 shares of the company’s stock valued at $14,736,000 after buying an additional 16,377 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Quanta Services during the second quarter valued at about $10,032,000. Rail Splitter Capital Management LLC acquired a new stake in Quanta Services during the third quarter valued at about $11,548,000. Finally, British Columbia Investment Management Corp boosted its stake in Quanta Services by 8.0% in the third quarter. British Columbia Investment Management Corp now owns 324,000 shares of the company’s stock valued at $9,069,000 after buying an additional 24,000 shares during the last quarter. 90.62% of the stock is currently owned by institutional investors.
Shares of Quanta Services Inc. (NYSE:PWR) traded up 0.55% during trading on Thursday, reaching $34.47. 1,628,109 shares of the company were exchanged. The company’s 50-day moving average is $34.74 and its 200 day moving average is $28.95. The firm has a market capitalization of $5.21 billion, a PE ratio of 51.83 and a beta of 0.67. Quanta Services Inc. has a 1-year low of $16.77 and a 1-year high of $36.85.
Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, November 3rd. The company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.08 billion. Quanta Services had a net margin of 1.42% and a return on equity of 5.53%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. Equities research analysts expect that Quanta Services Inc. will post $1.53 EPS for the current fiscal year.
Several analysts have weighed in on the company. Zacks Investment Research raised Quanta Services from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, October 5th. KeyCorp lifted their price objective on Quanta Services from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 29th. Avondale Partners cut Quanta Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 18th. Stifel Nicolaus lifted their price objective on Quanta Services from $28.00 to $32.50 and gave the company a “buy” rating in a research report on Friday, September 23rd. Finally, TheStreet raised Quanta Services from a “hold” rating to a “buy” rating in a research report on Thursday, November 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $29.50.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 4,500 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $35.00, for a total value of $157,500.00. Following the transaction, the executive vice president now directly owns 35,693 shares in the company, valued at approximately $1,249,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is 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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