Great Lakes Advisors LLC Decreases Position in Quanta Services Inc. (PWR)
Great Lakes Advisors LLC reduced its stake in shares of Quanta Services Inc. (NYSE:PWR) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,907 shares of the company’s stock after selling 3,703 shares during the period. Great Lakes Advisors LLC owned 0.12% of Quanta Services worth $5,064,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada increased its stake in Quanta Services by 64.8% in the first quarter. Royal Bank of Canada now owns 1,141,563 shares of the company’s stock valued at $25,754,000 after buying an additional 449,003 shares during the last quarter. Euclid Advisors LLC acquired a new stake in Quanta Services during the first quarter valued at about $138,000. BlueMountain Capital Management LLC acquired a new stake in Quanta Services during the first quarter valued at about $201,000. British Columbia Investment Management Corp increased its stake in Quanta Services by 555.7% in the second quarter. British Columbia Investment Management Corp now owns 300,000 shares of the company’s stock valued at $6,936,000 after buying an additional 254,247 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its stake in Quanta Services by 0.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 39,096 shares of the company’s stock valued at $904,000 after buying an additional 193 shares during the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.
Shares of Quanta Services Inc. (NYSE:PWR) traded up 4.20% during midday trading on Wednesday, reaching $33.72. The company had a trading volume of 5,003,822 shares. The stock has a market capitalization of $5.10 billion, a PE ratio of 50.71 and a beta of 0.60. The company’s 50-day moving average is $29.70 and its 200-day moving average is $26.10. Quanta Services Inc. has a 1-year low of $16.77 and a 1-year high of $34.14.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 3rd. The company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Quanta Services had a return on equity of 5.53% and a net margin of 1.42%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. Quanta Services’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts forecast that Quanta Services Inc. will post $1.54 EPS for the current year.
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PWR has been the subject of several research reports. Stifel Nicolaus raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Friday, August 5th. Citigroup Inc. dropped their price objective on Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Deutsche Bank AG restated a “buy” rating on shares of Quanta Services in a research note on Saturday, August 6th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $26.00 price objective on shares of Quanta Services in a research note on Monday, August 8th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.50.
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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