D. E. Shaw & Co. Inc. raised its position in Quanta Services Inc (NYSE:PWR) by 0.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,055,791 shares of the construction company’s stock after purchasing an additional 1,374 shares during the period. D. E. Shaw & Co. Inc. owned about 1.45% of Quanta Services worth $78,511,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Quanta Services by 23.9% in the second quarter. BlackRock Inc. now owns 10,852,772 shares of the construction company’s stock valued at $414,467,000 after purchasing an additional 2,091,884 shares during the last quarter. Invesco Ltd. grew its holdings in Quanta Services by 3.3% in the second quarter. Invesco Ltd. now owns 2,220,654 shares of the construction company’s stock valued at $84,806,000 after purchasing an additional 70,462 shares during the last quarter. Jennison Associates LLC grew its holdings in Quanta Services by 8.2% in the first quarter. Jennison Associates LLC now owns 2,209,785 shares of the construction company’s stock valued at $83,397,000 after purchasing an additional 166,566 shares during the last quarter. Geode Capital Management LLC grew its holdings in Quanta Services by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock valued at $62,379,000 after purchasing an additional 105,481 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Quanta Services by 38.0% in the second quarter. AQR Capital Management LLC now owns 1,862,024 shares of the construction company’s stock valued at $71,111,000 after purchasing an additional 512,376 shares during the last quarter. 85.74% of the stock is currently owned by institutional investors.
Several research firms have weighed in on PWR. Stifel Nicolaus upped their target price on Quanta Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Stephens set a $42.00 price objective on Quanta Services and gave the company a “buy” rating in a research report on Friday, August 16th. ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. TheStreet downgraded Quanta Services from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Finally, Vertical Research began coverage on Quanta Services in a research report on Friday, August 23rd. They issued a “buy” rating and a $41.00 price objective on the stock. One research 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. Quanta Services presently has a consensus rating of “Hold” and an average price target of $43.29.
Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Quanta Services Inc will post 2.89 EPS for the current year.
The firm 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 dividend of $0.04 per share. The ex-dividend date is Monday, September 30th. This represents a $0.16 annualized dividend and a yield of 0.43%. Quanta Services’s dividend payout ratio (DPR) is presently 6.32%.
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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