Quanta Services Inc (PWR) Stake Increased by Argent Capital Management LLC
Argent Capital Management LLC lifted its position in shares of Quanta Services Inc (NYSE:PWR) by 19.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,185 shares of the construction company’s stock after buying an additional 9,685 shares during the period. Argent Capital Management LLC’s holdings in Quanta Services were worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $1,151,000. Cipher Capital LP increased its holdings in Quanta Services by 873.6% in the 2nd quarter. Cipher Capital LP now owns 215,010 shares of the construction company’s stock valued at $7,078,000 after purchasing an additional 192,926 shares during the last quarter. 1060 Capital LLC increased its holdings in Quanta Services by 94.7% in the 2nd quarter. 1060 Capital LLC now owns 632,811 shares of the construction company’s stock valued at $20,832,000 after purchasing an additional 307,811 shares during the last quarter. BP Capital Fund Advisors LLC acquired a new position in shares of Quanta Services in the second quarter worth $3,915,000. Finally, Capital Fund Management S.A. grew its stake in shares of Quanta Services by 1,837.5% in the second quarter. Capital Fund Management S.A. now owns 559,760 shares of the construction company’s stock worth $18,427,000 after acquiring an additional 530,869 shares in the last quarter. Institutional investors and hedge funds own 86.11% of the company’s stock.
Several equities analysts have commented on PWR shares. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research note on Thursday, September 7th. Citigroup set a $47.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 27th. B. Riley boosted their price target on shares of Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. KeyCorp restated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research note on Friday, November 3rd. Finally, Robert W. Baird boosted their price target on shares of Quanta Services from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $44.64.
Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share 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 firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the company earned $0.55 earnings per share. Quanta Services’s quarterly revenue was up 27.8% compared to the same quarter last year. analysts anticipate that Quanta Services Inc will post 1.77 earnings per share for the current fiscal year.
Quanta Services 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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