Glenview Trust Co boosted its position in Quanta Services, Inc. (NYSE:PWR) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,525 shares of the construction company’s stock after purchasing an additional 12,261 shares during the period. Glenview Trust Co owned 0.14% of Quanta Services worth $6,832,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Segantii Capital Management Ltd acquired a new position in Quanta Services in the 1st quarter worth about $115,000. Ameritas Investment Partners Inc. acquired a new position in Quanta Services in the 1st quarter worth about $134,000. Bessemer Group Inc. increased its holdings in Quanta Services by 22.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after purchasing an additional 840 shares in the last quarter. Commonwealth Bank of Australia acquired a new position in Quanta Services in the 2nd quarter worth about $164,000. Finally, Thrivent Financial For Lutherans acquired a new position in Quanta Services in the 1st quarter worth about $206,000. 88.51% of the stock is owned by institutional investors and hedge funds.
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Quanta Services, Inc. (NYSE PWR) traded up 0.16% during midday trading on Friday, hitting $37.12. The company’s stock had a trading volume of 1,003,139 shares. The stock has a 50 day moving average of $35.47 and a 200 day moving average of $34.41. The company has a market cap of $5.76 billion, a PE ratio of 21.10 and a beta of 0.83. Quanta Services, Inc. has a 52-week low of $24.88 and a 52-week high of $38.82.
Quanta Services (NYSE:PWR) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, equities analysts expect that Quanta Services, Inc. will post $2.03 EPS for the current year.
In other news, Director John Michal Conaway sold 4,000 shares of Quanta Services 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 owns 34,797 shares in the company, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock worth $597,550. Company insiders own 0.70% of the company’s stock.
A number of equities analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a report on Thursday, September 7th. BidaskClub cut Quanta Services from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Citigroup Inc. raised Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, August 18th. Zacks Investment Research cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, FBR & Co raised Quanta Services to an “outperform” rating and upped their target price for the stock from $40.00 to $45.00 in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Quanta Services has an average rating of “Buy” and an average target price of $41.44.
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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