CI Investments Inc. Buys Shares of 308,500 Quanta Services, Inc. (PWR)
CI Investments Inc. bought a new position in Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 308,500 shares of the construction company’s stock, valued at approximately $11,529,000. CI Investments Inc. owned approximately 0.20% of Quanta Services as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Quanta Services by 182.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after buying an additional 2,190 shares in the last quarter. Bessemer Group Inc. lifted its position in Quanta Services by 22.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after buying an additional 840 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in Quanta Services in the 2nd quarter worth approximately $164,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Quanta Services by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock worth $189,000 after buying an additional 708 shares in the last quarter. Finally, Global X Management Co. LLC lifted its position in Quanta Services by 129.4% in the 2nd quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock worth $190,000 after buying an additional 3,253 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 34,797 shares in the company, valued at approximately $1,223,114.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 7,506 shares in the company, valued at $259,032.06. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Quanta Services, Inc. (PWR) traded up $0.88 during trading hours on Tuesday, reaching $36.72. 1,867,900 shares of the company were exchanged, compared to its average volume of 1,571,152. Quanta Services, Inc. has a 1-year low of $30.23 and a 1-year high of $38.82. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5,610.00, a price-to-earnings ratio of 18.76, a PEG ratio of 2.53 and a beta of 0.87.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the business posted $0.55 EPS. Quanta Services’s revenue was up 27.8% compared to the same quarter last year. equities analysts anticipate that Quanta Services, Inc. will post 1.77 EPS for the current fiscal year.
A number of research firms have recently weighed in on PWR. Zacks Investment Research upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Monday, October 16th. Robert W. Baird restated a “hold” rating and set a $39.00 price target on shares of Quanta Services in a report on Friday, October 6th. BidaskClub downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a report on Friday, August 4th. Finally, Seaport Global Securities restated a “buy” rating and set a $45.00 price target (up previously from $41.00) on shares of Quanta Services in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Quanta Services currently has a consensus rating of “Buy” and an average target price of $44.55.
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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