Principal Financial Group Inc. lessened its position in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 231,953 shares of the construction company’s stock after selling 3,124 shares during the quarter. Principal Financial Group Inc. owned approximately 0.15% of Quanta Services worth $8,668,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of Quanta Services by 182.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after acquiring an additional 2,190 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Quanta Services by 22.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after acquiring an additional 840 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $164,000. Intact Investment Management Inc. purchased a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Quanta Services by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after acquiring an additional 708 shares in the last quarter. Institutional investors and hedge funds own 85.97% of the company’s stock.
Quanta Services, Inc. (NYSE PWR) traded down $0.38 during mid-day trading on Wednesday, reaching $38.42. 1,796,800 shares of the company’s stock were exchanged, compared to its average volume of 1,567,091. Quanta Services, Inc. has a 12 month low of $30.23 and a 12 month high of $39.20. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.20. The stock has a market cap of $6,003.17, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.86.
Quanta Services (NYSE:PWR) last released its 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. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. analysts expect that Quanta Services, Inc. will post 1.77 EPS for the current fiscal year.
PWR has been the subject of several research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research report on Thursday, September 7th. Citigroup set a $47.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, October 27th. B. Riley upped their price target on shares of Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. KeyCorp restated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research report on Friday, November 3rd. Finally, Robert W. Baird increased their target price on shares of Quanta Services from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $44.64.
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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