Today, Quantitative Investment Management LLC Takes Position in Quanta Services Inc. (PWR)

Today, Quantitative Investment Management LLC Takes Position in Quanta Services Inc. (PWR)
Quantitative Investment Management LLC acquired a new stake in Quanta Services Inc. (NYSE:PWR) during the third quarter, Holdings Channel reports. The institutional investor acquired 33,700 shares of the company’s stock, valued at approximately $943,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trillium Asset Management LLC increased its position in shares of Quanta Services by 2.6% in the second quarter. Trillium Asset Management LLC now owns 637,387 shares of the company’s stock worth $14,736,000 after buying an additional 16,377 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Quanta Services during the second quarter worth about $10,032,000. LMR Partners LLP acquired a new position in shares of Quanta Services during the second quarter worth about $2,258,000. SG Americas Securities LLC increased its position in shares of Quanta Services by 114.6% in the second quarter. SG Americas Securities LLC now owns 119,249 shares of the company’s stock worth $2,757,000 after buying an additional 63,681 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its position in shares of Quanta Services by 79.1% in the second quarter. Acrospire Investment Management LLC now owns 7,700 shares of the company’s stock worth $178,000 after buying an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Shares of Quanta Services Inc. (NYSE:PWR) traded up 0.31% during mid-day trading on Friday, hitting $32.88. The stock had a trading volume of 708,850 shares. The company’s 50 day moving average is $29.60 and its 200-day moving average is $26.00. The stock has a market cap of $4.97 billion, a P/E ratio of 49.44 and a beta of 0.60. Quanta Services Inc. has a 52-week low of $16.77 and a 52-week high of $33.13.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Quanta Services had a net margin of 1.42% and a return on equity of 5.53%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services Inc. will post $1.54 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on PWR shares. Robert W. Baird upgraded Quanta Services from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $40.00 in a report on Tuesday, November 15th. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday, October 5th. Citigroup Inc. cut their price objective on Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 5th. Avondale Partners cut Quanta Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 18th. Finally, TheStreet raised Quanta Services from a “hold” rating to a “buy” rating in a research report on Thursday, November 3rd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $28.50.

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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