Russell Investments Group Ltd. increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 159.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 943,732 shares of the construction company’s stock after buying an additional 580,382 shares during the period. Russell Investments Group Ltd. owned 0.62% of Quanta Services worth $35,267,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Quanta Services by 38.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock worth $207,871,000 after purchasing an additional 1,758,319 shares during the period. Janus Henderson Group PLC bought a new stake in Quanta Services in the 2nd quarter worth $36,881,000. Renaissance Technologies LLC bought a new stake in Quanta Services in the 2nd quarter worth $35,076,000. Capital Fund Management S.A. boosted its stake in shares of Quanta Services by 1,837.5% during the 2nd 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. boosted its stake in shares of Quanta Services by 3.6% during the 2nd 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. 85.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Quanta Services, Inc. (PWR) traded up $0.16 during trading on Thursday, reaching $38.45. 1,006,846 shares of the company’s stock traded hands, compared to its average volume of 1,563,825. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.20. Quanta Services, Inc. has a one year low of $30.23 and a one year high of $39.20. The company has a market cap of $5,950.00, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.71 and a beta of 0.86.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the business earned $0.55 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. research analysts predict that Quanta Services, Inc. will post 1.77 earnings per share for the current year.
Several research firms recently commented on PWR. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a report on Thursday, September 7th. Citigroup set a $47.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 27th. B. Riley upped their target price on shares of Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. KeyCorp reiterated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research report on Friday, November 3rd. Finally, Robert W. Baird upped their target price on shares of Quanta Services from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.64.
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Quanta Services 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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