Navellier & Associates Inc Buys 7,621 Shares of Quanta Services Inc (PWR)
Navellier & Associates Inc increased its position in Quanta Services Inc (NYSE:PWR) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,804 shares of the construction company’s stock after buying an additional 7,621 shares during the period. Navellier & Associates Inc owned about 0.10% of Quanta Services worth $5,411,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Tygh Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter worth approximately $5,328,000. Osborne Partners Capital Management LLC raised its stake in shares of Quanta Services by 5.5% in the third quarter. Osborne Partners Capital Management LLC now owns 222,910 shares of the construction company’s stock worth $6,239,000 after buying an additional 11,670 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its stake in shares of Quanta Services by 34.3% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 281,011 shares of the construction company’s stock worth $7,865,000 after buying an additional 71,800 shares in the last quarter. Palouse Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter worth approximately $225,000. Finally, Wellington Shields Capital Management LLC bought a new stake in shares of Quanta Services during the third quarter worth approximately $223,000. 93.05% of the stock is owned by hedge funds and other institutional investors.
Quanta Services Inc (NYSE:PWR) traded down 0.57% on Friday, reaching $35.01. The company had a trading volume of 1,571,552 shares. The stock has a market capitalization of $5.29 billion, a PE ratio of 27.83 and a beta of 0.69. The stock’s 50 day moving average price is $36.42 and its 200-day moving average price is $34.08. Quanta Services Inc has a 12-month low of $21.60 and a 12-month high of $38.82.
Quanta Services (NYSE:PWR) last issued its earnings results on Tuesday, February 21st. The construction company reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. The company earned $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Quanta Services had a return on equity of 5.53% and a net margin of 1.42%. Quanta Services’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. Equities analysts expect that Quanta Services Inc will post $1.95 earnings per share for the current fiscal year.
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Several research firms have recently issued reports on PWR. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $43.00 target price on shares of Quanta Services in a report on Wednesday, February 22nd. Stifel Nicolaus upped their target price on Quanta Services from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. FBR & Co upped their target price on Quanta Services from $29.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, January 26th. DA Davidson reaffirmed a “buy” rating on shares of Quanta Services in a report on Thursday, February 16th. Finally, Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $37.38.
In other news, Director Patrick Wood III sold 5,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $38.08, for a total transaction of $190,400.00. Following the transaction, the director now directly owns 11,506 shares in the company, valued at $438,148.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Nicholas M. Grindstaff sold 27,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $38.20, for a total transaction of $1,031,400.00. Following the transaction, the vice president now owns 23,659 shares in the company, valued at $903,773.80. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
About Quanta Services
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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