Geode Capital Management LLC increased its position in shares of Quanta Services Inc (NYSE:PWR) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,696,737 shares of the construction company’s stock after acquiring an additional 77,696 shares during the period. Geode Capital Management LLC owned approximately 1.10% of Quanta Services worth $66,255,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of PWR. Mckinley Capital Management LLC Delaware purchased a new stake in Quanta Services during the 3rd quarter valued at $111,000. Cerebellum GP LLC purchased a new stake in shares of Quanta Services in the 4th quarter worth about $130,000. SSI Investment Management Inc. purchased a new stake in shares of Quanta Services in the 4th quarter worth about $209,000. Commerce Bank purchased a new stake in shares of Quanta Services in the 4th quarter worth about $222,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Quanta Services in the 4th quarter worth about $264,000. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
Quanta Services stock traded down $0.89 during mid-day trading on Thursday, reaching $34.93. 708,009 shares of the company’s stock were exchanged, compared to its average volume of 1,581,486. The company has a market capitalization of $5,396.44, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86. Quanta Services Inc has a fifty-two week low of $30.23 and a fifty-two week 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 released its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.34 billion. Quanta Services had a net margin of 3.33% and a return on equity of 7.75%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. equities research analysts forecast that Quanta Services Inc will post 2.41 earnings per share for the current fiscal year.
A number of analysts have weighed in on PWR shares. KeyCorp reaffirmed a “buy” rating and set a $46.00 price target on shares of Quanta Services in a report on Wednesday, November 29th. Stifel Nicolaus reissued a “buy” rating on shares of Quanta Services in a report on Thursday, December 14th. Robert W. Baird set a $42.00 price objective on shares of Quanta Services and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Finally, Stephens reaffirmed a “buy” rating and set a $49.00 price target on shares of Quanta Services in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Quanta Services currently has a consensus rating of “Buy” and a consensus target price of $45.15.
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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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