Corient Capital Partners LLC lessened its holdings in Quanta Services Inc (NYSE:PWR) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,342 shares of the construction company’s stock after selling 3,109 shares during the quarter. Corient Capital Partners LLC’s holdings in Quanta Services were worth $1,273,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. NEXT Financial Group Inc purchased a new stake in shares of Quanta Services in the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Quanta Services by 65.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,320 shares of the construction company’s stock worth $50,000 after purchasing an additional 520 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Quanta Services during the second quarter worth approximately $59,000. Wakefield Asset Management LLLP purchased a new stake in shares of Quanta Services during the first quarter worth approximately $62,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Quanta Services during the first quarter worth approximately $69,000. 85.93% of the stock is owned by institutional investors.
Shares of NYSE:PWR opened at $38.50 on Friday. Quanta Services Inc has a 52 week low of $27.90 and a 52 week high of $41.00. The company has a market cap of $5.44 billion, a P/E ratio of 15.22 and a beta of 1.18. The company has a quick ratio of 1.93, a current ratio of 1.97 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $34.46 and a 200-day simple moving average of $36.84.
Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.45). The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.89 billion. Quanta Services had a net margin of 2.80% and a return on equity of 11.41%. Quanta Services’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Sell-side analysts expect that Quanta Services Inc will post 2.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, September 30th. Quanta Services’s dividend payout ratio (DPR) is 6.32%.
Several brokerages have issued reports on PWR. Vertical Research began coverage on Quanta Services in a report on Friday, August 23rd. They issued a “buy” rating and a $41.00 target price for the company. Stifel Nicolaus upped their price target on Quanta Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday. TheStreet downgraded Quanta Services from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Citigroup raised their price target on Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, ValuEngine cut Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $43.29.
Quanta Services Company 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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