Quanta Services Inc (NYSE:PWR) Shares Acquired by Millennium Management LLC
Millennium Management LLC increased its position in Quanta Services Inc (NYSE:PWR) by 3,094.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 518,537 shares of the construction company’s stock after acquiring an additional 502,307 shares during the period. Millennium Management LLC owned approximately 0.36% of Quanta Services worth $19,600,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Commerce Bank increased its stake in shares of Quanta Services by 18.3% in the second quarter. Commerce Bank now owns 6,451 shares of the construction company’s stock valued at $247,000 after purchasing an additional 1,000 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Quanta Services by 0.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 927,549 shares of the construction company’s stock worth $35,423,000 after buying an additional 3,489 shares in the last quarter. Banco de Sabadell S.A increased its position in Quanta Services by 60.2% in the 3rd quarter. Banco de Sabadell S.A now owns 127,271 shares of the construction company’s stock valued at $4,802,000 after acquiring an additional 47,825 shares during the period. New York State Teachers Retirement System increased its position in Quanta Services by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 278,130 shares of the construction company’s stock valued at $10,513,000 after acquiring an additional 15,406 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in Quanta Services by 27.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 93,095 shares of the construction company’s stock valued at $3,555,000 after acquiring an additional 20,045 shares in the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.
NYSE PWR opened at $40.64 on Wednesday. Quanta Services Inc has a 12 month low of $27.90 and a 12 month high of $44.09. The firm has a market capitalization of $5.93 billion, a PE ratio of 16.06, a P/E/G ratio of 0.96 and a beta of 1.25. The company’s 50 day simple moving average is $41.75 and its 200 day simple moving average is $37.73. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.82 and a quick ratio of 1.80.
In other news, VP Dorothy Upperman sold 5,764 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $43.86, for a total value of $252,809.04. Following the completion of the sale, the vice president now owns 13,134 shares in the company, valued at $576,057.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jerry K. Lemon sold 2,750 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.70, for a total value of $120,175.00. Following the completion of the sale, the chief accounting officer now owns 10,277 shares of the company’s stock, valued at approximately $449,104.90. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on the company. Stephens set a $42.00 price target on Quanta Services and gave the stock a “buy” rating in a research report on Friday, August 16th. ValuEngine raised Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Citigroup lifted their price objective on shares of Quanta Services from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. TheStreet upgraded shares of Quanta Services from a “c+” rating to a “b-” rating in a research note on Wednesday, September 25th. Finally, Stifel Nicolaus upped their price objective on shares of Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $44.33.
Quanta Services Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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