Huntington National Bank increased its stake in shares of Quanta Services Inc (NYSE:PWR) by 37.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,220 shares of the construction company’s stock after purchasing an additional 599 shares during the period. Huntington National Bank’s holdings in Quanta Services were worth $84,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Martingale Asset Management L P lifted its holdings in Quanta Services by 760.8% during the 3rd quarter. Martingale Asset Management L P now owns 124,924 shares of the construction company’s stock worth $4,170,000 after purchasing an additional 110,411 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Quanta Services by 126.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 180,641 shares of the construction company’s stock worth $6,030,000 after purchasing an additional 100,743 shares in the last quarter. BlueMountain Capital Management LLC lifted its holdings in Quanta Services by 534.9% during the 3rd quarter. BlueMountain Capital Management LLC now owns 44,352 shares of the construction company’s stock worth $1,480,000 after purchasing an additional 37,366 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Quanta Services by 1,394.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 245,154 shares of the construction company’s stock worth $8,183,000 after purchasing an additional 228,753 shares in the last quarter. Finally, Rampart Investment Management Company LLC lifted its holdings in Quanta Services by 217.6% during the 3rd quarter. Rampart Investment Management Company LLC now owns 4,990 shares of the construction company’s stock worth $167,000 after purchasing an additional 3,419 shares in the last quarter. 87.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PWR opened at $40.15 on Wednesday. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.78 and a current ratio of 1.84. Quanta Services Inc has a twelve month low of $27.90 and a twelve month high of $40.47.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 21st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.94 billion. Quanta Services had a return on equity of 10.63% and a net margin of 2.63%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. Research analysts forecast that Quanta Services Inc will post 3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. Quanta Services’s dividend payout ratio is currently 6.32%.
PWR has been the topic of a number of recent research reports. ValuEngine cut Quanta Services from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Citigroup set a $46.00 price objective on Quanta Services and gave the stock a “buy” rating in a report on Friday, February 22nd. B. Riley restated a “buy” rating and issued a $47.00 target price (down from $56.00) on shares of Quanta Services in a research note on Monday, March 11th. Finally, DA Davidson lowered Quanta Services from a “buy” rating to a “neutral” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.60.
In other news, Director Bernard Fried sold 4,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.63, for a total transaction of $146,520.00. Following the transaction, the director now directly owns 8,953 shares in the company, valued at approximately $327,948.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 1,295 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.09, for a total value of $46,736.55. Following the transaction, the executive vice president now owns 30,054 shares in the company, valued at $1,084,648.86. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.
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Quanta Services Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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