Quanta Services (NYSE:PWR) released its earnings results on Thursday. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01, Bloomberg Earnings reports. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.34 billion. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. Quanta Services’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. Quanta Services updated its FY18 guidance to $2.40-2.80 EPS.
Shares of Quanta Services (NYSE PWR) traded up $1.37 during midday trading on Thursday, reaching $36.21. The company’s stock had a trading volume of 598,163 shares, compared to its average volume of 1,444,616. Quanta Services has a 12 month low of $30.23 and a 12 month high of $40.10. 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 stock has a market cap of $5,407.49, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79.
PWR has been the subject of a number of recent research reports. Robert W. Baird set a $42.00 target price on Quanta Services and gave the company a “hold” rating in a report on Wednesday, January 3rd. Citigroup set a $47.00 price target on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 27th. B. Riley lifted their price target on Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Finally, KeyCorp reaffirmed a “buy” rating and set a $45.00 price target on shares of Quanta Services in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $45.33.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Quanta Services by 2.6% in the 4th quarter. BlackRock Inc. now owns 8,876,555 shares of the construction company’s stock valued at $347,161,000 after purchasing an additional 221,461 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Quanta Services by 9.4% in the 4th quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock valued at $256,029,000 after purchasing an additional 562,296 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Quanta Services by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,910,693 shares of the construction company’s stock valued at $183,515,000 after purchasing an additional 212,294 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Quanta Services by 39.9% in the 4th quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock valued at $132,550,000 after purchasing an additional 966,316 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Quanta Services by 10.7% in the 4th quarter. Alliancebernstein L.P. now owns 2,328,599 shares of the construction company’s stock valued at $91,072,000 after purchasing an additional 224,727 shares during the last quarter. 83.60% of the stock is owned by institutional investors and hedge funds.
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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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