Quanta Services Inc (NYSE:PWR) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 2,791,480 shares, an increase of 47.7% from the February 15th total of 1,889,952 shares. Based on an average daily volume of 1,935,385 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.8% of the company’s stock are short sold.
Quanta Services (NYSE PWR) opened at $35.36 on Friday. The company has a market cap of $5,381.06, a price-to-earnings ratio of 17.68, a PEG ratio of 1.81 and a beta of 0.86. Quanta Services has a 1-year low of $30.23 and a 1-year high of $40.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.87.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Quanta Services had a net margin of 3.33% and a return on equity of 7.75%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. analysts predict that Quanta Services will post 2.41 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Quanta Services by 2.6% in the 4th quarter. BlackRock Inc. now owns 8,876,555 shares of the construction company’s stock valued at $347,161,000 after acquiring an additional 221,461 shares during the period. Victory Capital Management Inc. increased its stake in Quanta Services by 9.4% in the 4th quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock valued at $256,029,000 after buying an additional 562,296 shares during the period. Dimensional Fund Advisors LP increased its stake in Quanta Services by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,910,693 shares of the construction company’s stock valued at $183,515,000 after buying an additional 212,294 shares during the period. Jennison Associates LLC increased its stake in Quanta Services by 39.9% in the 4th quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock valued at $132,550,000 after buying an additional 966,316 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Quanta Services by 10.7% in the 4th quarter. Alliancebernstein L.P. now owns 2,328,599 shares of the construction company’s stock valued at $91,072,000 after buying an additional 224,727 shares during the period. 83.31% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Quanta Services from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Friday, February 9th. Stephens reissued a “buy” rating and set a $49.00 price objective on shares of Quanta Services in a report on Wednesday, January 31st. Credit Suisse Group reissued an “outperform” rating and set a $42.00 price objective (down previously from $46.00) on shares of Quanta Services in a report on Friday, February 23rd. Finally, KeyCorp reissued a “buy” rating and set a $46.00 price objective on shares of Quanta Services in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $45.15.
ILLEGAL ACTIVITY WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://ledgergazette.com/2018/03/18/quanta-services-inc-pwr-short-interest-update.html.
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.
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.