Huntington National Bank maintained its stake in shares of Quanta Services Inc. (NYSE:PWR) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,501 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Quanta Services were worth $242,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Quanta Services during the fourth quarter worth approximately $31,259,000. Aperio Group LLC increased its stake in shares of Quanta Services by 49.7% in the first quarter. Aperio Group LLC now owns 51,150 shares of the company’s stock worth $1,154,000 after buying an additional 16,982 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Quanta Services by 18.0% in the first quarter. CIBC World Markets Inc. now owns 14,466 shares of the company’s stock worth $326,000 after buying an additional 2,211 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Quanta Services by 50.1% in the first quarter. Teachers Advisors Inc. now owns 510,129 shares of the company’s stock worth $11,509,000 after buying an additional 170,302 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Quanta Services by 295.9% in the first quarter. Prudential Financial Inc. now owns 808,514 shares of the company’s stock worth $18,240,000 after buying an additional 604,300 shares during 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 up 0.68% during trading on Friday, hitting $27.99. The company’s stock had a trading volume of 1,899,266 shares. The company has a 50-day moving average price of $25.92 and a 200-day moving average price of $24.14. The stock has a market cap of $4.23 billion, a PE ratio of 18.91 and a beta of 0.67. Quanta Services Inc. has a one year low of $16.77 and a one year high of $28.14.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.18. Quanta Services had a return on equity of 4.68% and a net margin of 3.38%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $0.24 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts predict that Quanta Services Inc. will post $1.55 EPS for the current fiscal year.
A number of analysts have recently commented on PWR shares. Credit Suisse Group AG restated a “buy” rating on shares of Quanta Services in a research note on Saturday, June 4th. Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Stifel Nicolaus upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, August 5th. Citigroup Inc. lowered their target price on Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $26.65.
In related news, EVP Randall C. Wisenbaker sold 5,121 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $26.36, for a total transaction of $134,989.56. Following the transaction, the executive vice president now owns 40,193 shares of the company’s stock, valued at $1,059,487.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.
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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