Russell Investments Group Ltd. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 159.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 943,732 shares of the construction company’s stock after purchasing an additional 580,382 shares during the quarter. Russell Investments Group Ltd. owned 0.62% of Quanta Services worth $35,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in PWR. Victory Capital Management Inc. lifted its holdings in shares of Quanta Services by 38.6% during the second quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock valued at $207,871,000 after purchasing an additional 1,758,319 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Quanta Services during the second quarter valued at $36,881,000. Renaissance Technologies LLC bought a new position in shares of Quanta Services during the second quarter valued at $35,076,000. Capital Fund Management S.A. lifted its holdings in shares of Quanta Services by 1,837.5% during the second quarter. Capital Fund Management S.A. now owns 559,760 shares of the construction company’s stock valued at $18,427,000 after purchasing an additional 530,869 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 3.6% during the second quarter. Vanguard Group Inc. now owns 14,732,602 shares of the construction company’s stock valued at $484,998,000 after purchasing an additional 511,917 shares in the last quarter. 85.39% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, EVP Randall C. Wisenbaker sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the completion of the transaction, the executive vice president now owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.
Shares of Quanta Services, Inc. (PWR) opened at $36.89 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. The company has a market capitalization of $5,710.00, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. Quanta Services, Inc. has a 1 year low of $30.23 and a 1 year high of $38.82.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. sell-side analysts expect that Quanta Services, Inc. will post 1.77 EPS for the current year.
A number of research analysts have recently issued reports on PWR shares. Zacks Investment Research raised Quanta Services from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Monday, October 16th. Robert W. Baird reiterated a “hold” rating and set a $39.00 price objective on shares of Quanta Services in a research report on Friday, October 6th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a research report on Friday, August 4th. Seaport Global Securities reiterated a “buy” rating and set a $45.00 price objective (up previously from $41.00) on shares of Quanta Services in a research report on Wednesday, October 11th. Finally, Citigroup Inc. set a $47.00 price objective on Quanta Services and gave the company a “buy” rating in a research report on Friday, October 27th. 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 stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.55.
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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