Investors Buy High Volume of Put Options on Quanta Services (PWR)
Quanta Services Inc (NYSE:PWR) was the target of unusually large options trading on Monday. Stock investors purchased 1,130 put options on the company. This is an increase of 549% compared to the typical daily volume of 174 put options.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PWR. Mckinley Capital Management LLC Delaware acquired a new position in shares of Quanta Services during the 3rd quarter worth about $111,000. Tower Research Capital LLC TRC raised its position in shares of Quanta Services by 182.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after purchasing an additional 2,190 shares during the last quarter. Commonwealth Bank of Australia acquired a new position in shares of Quanta Services during the 2nd quarter worth about $164,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Quanta Services by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock worth $189,000 after purchasing an additional 708 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in Quanta Services in the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.
Quanta Services (PWR) opened at $39.11 on Friday. The firm has a market cap of $6,090.00, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.86. Quanta Services has a 1 year low of $30.23 and a 1 year high of $39.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80.
A number of equities research analysts have recently weighed in on PWR shares. Stifel Nicolaus reissued a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a report on Thursday, September 7th. Robert W. Baird reissued a “hold” rating and set a $39.00 price objective on shares of Quanta Services in a report on Friday, October 6th. Zacks Investment Research lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, October 9th. ValuEngine lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Seaport Global Securities reissued a “buy” rating and set a $45.00 price objective (up 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, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.64.
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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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