Guggenheim Capital LLC grew its holdings in shares of Quanta Services Inc (NYSE:PWR) by 11.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,410,419 shares of the construction company’s stock after purchasing an additional 143,684 shares during the quarter. Guggenheim Capital LLC’s holdings in Quanta Services were worth $48,448,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PWR. Swiss National Bank lifted its holdings in shares of Quanta Services by 2.1% during the 4th quarter. Swiss National Bank now owns 259,735 shares of the construction company’s stock valued at $10,158,000 after purchasing an additional 5,400 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Quanta Services by 5.7% during the 4th quarter. Wells Fargo & Company MN now owns 623,150 shares of the construction company’s stock valued at $24,370,000 after purchasing an additional 33,476 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Quanta Services by 12.9% during the 4th quarter. Toronto Dominion Bank now owns 57,529 shares of the construction company’s stock valued at $2,250,000 after purchasing an additional 6,566 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Quanta Services by 65.3% during the 4th quarter. Global X Management Co. LLC now owns 11,487 shares of the construction company’s stock valued at $449,000 after purchasing an additional 4,537 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Quanta Services by 6.6% during the 4th quarter. State of Wisconsin Investment Board now owns 34,923 shares of the construction company’s stock valued at $1,366,000 after purchasing an additional 2,163 shares during the last quarter. Hedge funds and other institutional investors own 84.15% of the company’s stock.
PWR has been the subject of several analyst reports. B. Riley decreased their price objective on Quanta Services from $50.00 to $48.00 and set a “buy” rating for the company in a report on Monday, February 26th. DA Davidson reiterated a “buy” rating on shares of Quanta Services in a report on Thursday, February 22nd. Credit Suisse Group reiterated an “outperform” rating and set a $42.00 price objective (down previously from $46.00) on shares of Quanta Services in a report on Friday, February 23rd. Zacks Investment Research lowered Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Finally, Alembic Global Advisors set a $45.00 price objective on Quanta Services and gave the company a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.23.
Shares of Quanta Services opened at $35.41 on Wednesday, Marketbeat reports. The firm has a market capitalization of $5.33 billion, a P/E ratio of 19.89, a PEG ratio of 1.75 and a beta of 0.89. The company has a quick ratio of 1.85, a current ratio of 1.91 and a debt-to-equity ratio of 0.24. Quanta Services Inc has a 1 year low of $31.08 and a 1 year high of $40.10.
Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 3rd. The construction company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.14. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.08 billion. Quanta Services had a return on equity of 7.57% and a net margin of 3.14%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. analysts forecast that Quanta Services Inc will post 2.55 EPS for the current fiscal year.
In related news, insider Jerry K. Lemon sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $36.91, for a total value of $73,820.00. Following the completion of the transaction, the insider now owns 11,812 shares in the company, valued at approximately $435,980.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.
About Quanta Services
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
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