Zurcher Kantonalbank Zurich Cantonalbank increased its position in Quanta Services Inc (NYSE:PWR) by 50.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,652 shares of the construction company’s stock after purchasing an additional 8,239 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Quanta Services were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Quanta Services by 9.5% in the 1st quarter. BlackRock Inc. now owns 13,817,414 shares of the construction company’s stock valued at $438,426,000 after purchasing an additional 1,201,086 shares during the period. State Street Corp raised its stake in Quanta Services by 2.7% during the fourth quarter. State Street Corp now owns 4,686,679 shares of the construction company’s stock valued at $191,028,000 after buying an additional 122,572 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Quanta Services by 4.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,160,603 shares of the construction company’s stock valued at $169,379,000 after buying an additional 160,464 shares during the last quarter. Lyrical Asset Management LP increased its holdings in shares of Quanta Services by 1.0% in the 4th quarter. Lyrical Asset Management LP now owns 4,040,594 shares of the construction company’s stock worth $164,493,000 after purchasing an additional 41,038 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Quanta Services by 21.2% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,155,183 shares of the construction company’s stock worth $100,114,000 after purchasing an additional 552,598 shares in the last quarter. Institutional investors own 96.33% of the company’s stock.
In other Quanta Services news, EVP Donald Wayne sold 1,295 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $37.73, for a total transaction of $48,860.35. Following the sale, the executive vice president now directly owns 35,257 shares in the company, valued at $1,330,246.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
NYSE:PWR opened at $34.25 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.75 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $4.66 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.82 and a beta of 1.15. Quanta Services Inc has a 12 month low of $23.77 and a 12 month high of $44.09. The business’s 50-day moving average is $33.25 and its 200 day moving average is $37.64.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 7th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.74 billion. Quanta Services had a return on equity of 9.72% and a net margin of 2.65%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 earnings per share. On average, research analysts forecast that Quanta Services Inc will post 2.86 earnings per share for the current year.
Several analysts have issued reports on PWR shares. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating and set a $36.00 price target for the company in a report on Monday, May 4th. Credit Suisse Group lowered their price objective on Quanta Services from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. B. Riley lowered their price objective on Quanta Services from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, KeyCorp boosted their price objective on Quanta Services from $38.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Quanta Services has a consensus rating of “Buy” and a consensus price target of $44.50.
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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