Quanta Services Inc (PWR) Sees Large Growth in Short Interest

Quanta Services Inc (NYSE:PWR) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,791,480 shares, an increase of 47.7% from the February 15th total of 1,889,952 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average trading volume of 1,935,385 shares, the short-interest ratio is currently 1.4 days.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Quanta Services by 2.6% during the 4th quarter. BlackRock Inc. now owns 8,876,555 shares of the construction company’s stock worth $347,161,000 after purchasing an additional 221,461 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Quanta Services by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock worth $256,029,000 after purchasing an additional 562,296 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Quanta Services by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,910,693 shares of the construction company’s stock worth $183,515,000 after purchasing an additional 212,294 shares in the last quarter. Jennison Associates LLC increased its holdings in Quanta Services by 39.9% during the 4th quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock worth $132,550,000 after purchasing an additional 966,316 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Quanta Services by 10.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,328,599 shares of the construction company’s stock worth $91,072,000 after purchasing an additional 224,727 shares in the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.

Shares of PWR stock traded down $0.88 during trading hours on Friday, reaching $33.72. The company had a trading volume of 1,290,362 shares, compared to its average volume of 1,441,813. The company has a quick ratio of 1.87, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $5,319.57, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.79 and a beta of 0.86. Quanta Services has a 1-year low of $30.23 and a 1-year high of $40.10.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.34 billion. Quanta Services had a return on equity of 7.75% and a net margin of 3.33%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. research analysts anticipate that Quanta Services will post 2.41 earnings per share for the current fiscal year.

PWR has been the topic of a number of research analyst reports. Robert W. Baird set a $42.00 price target on Quanta Services and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price objective on shares of Quanta Services in a research report on Friday, January 26th. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, February 9th. B. Riley decreased their price objective on Quanta Services from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Finally, DA Davidson reiterated a “buy” rating on shares of Quanta Services in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $45.15.

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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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