Wells Fargo & Company MN Decreases Stock Position in Quanta Services Inc (NYSE:PWR)

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Wells Fargo & Company MN lowered its stake in Quanta Services Inc (NYSE:PWR) by 20.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 695,035 shares of the construction company’s stock after selling 176,317 shares during the period. Wells Fargo & Company MN owned approximately 0.49% of Quanta Services worth $26,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Quanta Services by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock valued at $62,379,000 after acquiring an additional 105,481 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Quanta Services by 1,363.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,573 shares of the construction company’s stock valued at $248,000 after acquiring an additional 6,124 shares in the last quarter. Creative Planning purchased a new stake in Quanta Services during the 1st quarter valued at about $249,000. BNP Paribas Arbitrage SA grew its stake in Quanta Services by 131.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 32,389 shares of the construction company’s stock valued at $1,222,000 after acquiring an additional 18,392 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Quanta Services by 68.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,091 shares of the construction company’s stock valued at $79,000 after acquiring an additional 853 shares in the last quarter. Hedge funds and other institutional investors own 89.51% of the company’s stock.

PWR traded up $1.05 during trading on Thursday, hitting $34.68. The stock had a trading volume of 79,586 shares, compared to its average volume of 1,249,607. The company has a 50 day moving average price of $34.78 and a 200-day moving average price of $36.86. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 13.71 and a beta of 1.18. Quanta Services Inc has a one year low of $27.90 and a one year high of $41.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.97 and a quick ratio of 1.93.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.45). Quanta Services had a net margin of 2.80% and a return on equity of 11.41%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the company posted $0.59 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services Inc will post 2.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, September 30th. Quanta Services’s dividend payout ratio (DPR) is 6.32%.

PWR has been the subject of several research reports. TheStreet cut shares of Quanta Services from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Vertical Research began coverage on shares of Quanta Services in a report on Friday, August 23rd. They set a “buy” rating and a $41.00 target price on the stock. Stephens set a $42.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, August 16th. ValuEngine lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Citigroup increased their price objective on shares of Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Quanta Services has a consensus rating of “Hold” and a consensus price target of $42.57.

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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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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