FTB Advisors Inc. Has $102,000 Position in Quanta Services, Inc. (PWR)
FTB Advisors Inc. increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,876 shares of the construction company’s stock after purchasing an additional 3 shares during the quarter. FTB Advisors Inc.’s holdings in Quanta Services were worth $102,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Quanta Services during the first quarter worth about $134,000. Bessemer Group Inc. boosted its stake in Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after acquiring an additional 840 shares during the last quarter. Commonwealth Bank of Australia purchased a new position in Quanta Services in the second quarter valued at about $164,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Quanta Services by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after acquiring an additional 708 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in Quanta Services by 129.4% in the second quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock valued at $190,000 after acquiring an additional 3,253 shares during the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
In related news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total value of $316,350.00. Following the transaction, the executive vice president now owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the completion of the transaction, the director now directly owns 7,506 shares in the company, valued at approximately $259,032.06. The disclosure for this sale can be found here. In the last three months, insiders sold 17,000 shares of company stock worth $597,550. 0.70% of the stock is currently owned by insiders.
A number of research analysts have weighed in on the stock. Robert W. Baird reiterated a “hold” rating and issued a $39.00 target price on shares of Quanta Services in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a research note on Thursday, September 7th. BidaskClub cut shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Citigroup Inc. upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, August 18th. Finally, Zacks Investment Research cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $41.56.
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Quanta Services, Inc. (NYSE:PWR) traded down 0.59% during mid-day trading on Monday, hitting $37.32. 31,971 shares of the stock traded hands. The company’s 50 day moving average price is $36.18 and its 200-day moving average price is $34.45. Quanta Services, Inc. has a 1-year low of $27.29 and a 1-year high of $38.82. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 21.22 and a beta of 0.83.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Analysts predict that Quanta Services, Inc. will post $2.03 earnings per share for the current year.
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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