Seaport Global Securities Comments on Quanta Services, Inc.’s Q3 2017 Earnings (PWR)

Quanta Services, Inc. (NYSE:PWR) – Analysts at Seaport Global Securities issued their Q3 2017 earnings per share (EPS) estimates for shares of Quanta Services in a research report issued on Wednesday. Seaport Global Securities analyst R. Cassil forecasts that the construction company will earn $0.56 per share for the quarter. Seaport Global Securities has a “Buy” rating and a $45.00 price objective on the stock. Seaport Global Securities also issued estimates for Quanta Services’ Q4 2017 earnings at $0.44 EPS and FY2017 earnings at $1.79 EPS.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Credit Suisse Group restated a “buy” rating and issued a $46.00 target price on shares of Quanta Services in a report on Wednesday, July 26th. Robert W. Baird cut shares of Quanta Services from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $41.00 to $38.00 in a report on Wednesday, July 26th. Johnson Rice upgraded shares of Quanta Services from an “accumulate” rating to a “buy” rating and raised their target price for the stock from $41.00 to $43.00 in a report on Friday, August 4th. Finally, BidaskClub upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $42.40.

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Quanta Services (PWR) opened at 37.45 on Monday. The company’s 50 day moving average is $36.70 and its 200-day moving average is $34.46. The firm has a market cap of $5.81 billion, a P/E ratio of 21.29 and a beta of 0.83. Quanta Services has a 52-week low of $27.29 and a 52-week high of $38.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year.

In related news, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total value of $316,350.00. Following the sale, the executive vice president now owns 34,797 shares in the company, valued at $1,223,114.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the completion of the sale, the director now owns 7,506 shares in the company, valued at approximately $259,032.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock worth $597,550. 0.70% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in Quanta Services by 182.5% in the second 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. Ameritas Investment Partners Inc. bought a new stake in Quanta Services in the first quarter valued at $134,000. Bessemer Group Inc. boosted its holdings in Quanta Services by 22.2% in the second 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 bought a new stake in Quanta Services in the second quarter valued at $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Quanta Services by 14.0% in the second 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 88.48% of the company’s stock.

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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