Smith Graham & Co. Investment Advisors LP lowered its position in shares of Quanta Services Inc. (NYSE:PWR) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 181,530 shares of the company’s stock after selling 1,090 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Quanta Services were worth $4,197,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Euclid Advisors LLC bought a new position in Quanta Services during the first quarter valued at approximately $138,000. BlueMountain Capital Management LLC bought a new position in Quanta Services during the first quarter valued at approximately $201,000. Invictus RG raised its position in Quanta Services by 49.1% in the first quarter. Invictus RG now owns 12,711 shares of the company’s stock valued at $287,000 after buying an additional 4,183 shares in the last quarter. CIBC World Markets Inc. raised its position in Quanta Services by 18.0% in the first quarter. CIBC World Markets Inc. now owns 14,466 shares of the company’s stock valued at $326,000 after buying an additional 2,211 shares in the last quarter. Finally, Sentry Investment Management LLC raised its position in Quanta Services by 116.2% in the first quarter. Sentry Investment Management LLC now owns 15,885 shares of the company’s stock valued at $358,000 after buying an additional 8,537 shares in the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.
Shares of Quanta Services Inc. (NYSE:PWR) traded down 0.11% during trading on Thursday, reaching $27.80. 2,374,508 shares of the company were exchanged. The stock has a market capitalization of $4.20 billion, a P/E ratio of 18.78 and a beta of 0.67. Quanta Services Inc. has a 1-year low of $16.77 and a 1-year high of $28.09. The firm has a 50-day moving average price of $25.84 and a 200-day moving average price of $24.10.
Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.18. The business earned $1.15 billion during the quarter, compared to analyst estimates of $1.86 billion. Quanta Services had a net margin of 3.38% and a return on equity of 4.68%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 EPS. Equities research analysts predict that Quanta Services Inc. will post $1.55 earnings per share for the current fiscal year.
Several research analysts recently commented on PWR shares. Citigroup Inc. dropped their price target on Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 5th. Stifel Nicolaus boosted their target price on Quanta Services from $28.00 to $32.50 and gave the company a “buy” rating in a research report on Friday, September 23rd. Credit Suisse Group AG restated a “buy” rating and set a $26.00 target price on shares of Quanta Services in a research report on Monday, August 8th. Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Quanta Services in a research report on Saturday, August 6th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.65.
In other news, EVP Randall C. Wisenbaker sold 5,121 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $26.36, for a total value of $134,989.56. Following the completion of the sale, the executive vice president now owns 40,193 shares of the company’s stock, valued at approximately $1,059,487.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.
About Quanta Services
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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