Meeder Asset Management Inc. boosted its position in shares of Quanta Services Inc (NYSE:PWR) by 47.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,157 shares of the construction company’s stock after purchasing an additional 17,329 shares during the quarter. Meeder Asset Management Inc.’s holdings in Quanta Services were worth $2,068,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Quanta Services by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock valued at $62,379,000 after buying an additional 105,481 shares during the period. Pennsylvania Trust Co purchased a new position in shares of Quanta Services during the first quarter valued at approximately $1,499,000. Boenning & Scattergood Inc. purchased a new position in shares of Quanta Services during the first quarter valued at approximately $1,038,000. Jupiter Wealth Management LLC purchased a new position in shares of Quanta Services during the first quarter valued at approximately $440,000. Finally, Smith Graham & Co. Investment Advisors LP lifted its stake in shares of Quanta Services by 1.0% during the first quarter. Smith Graham & Co. Investment Advisors LP now owns 185,560 shares of the construction company’s stock valued at $7,003,000 after buying an additional 1,810 shares during the period. 89.51% of the stock is owned by hedge funds and other institutional investors.
PWR stock traded down $0.33 on Tuesday, hitting $33.22. 15,292 shares of the company were exchanged, compared to its average volume of 1,617,535. Quanta Services Inc has a twelve month low of $27.90 and a twelve month high of $41.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.97 and a quick ratio of 1.93. The business’s fifty day moving average is $36.34 and its two-hundred day moving average is $36.97. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 13.06 and a beta of 1.17.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.45). Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts expect that Quanta Services Inc will post 2.9 earnings per share for the current year.
Several equities analysts recently issued reports on the stock. ValuEngine downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on shares of Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Stephens set a $42.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Quanta Services presently has a consensus rating of “Hold” and an average price target of $42.83.
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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