Paradigm Financial Advisors LLC raised its stake in shares of Quanta Services Inc. (NYSE:PWR) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,793 shares of the company’s stock after buying an additional 50 shares during the period. Paradigm Financial Advisors LLC’s holdings in Quanta Services were worth $1,659,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. purchased a new stake in Quanta Services during the second quarter worth approximately $602,000. Bank of Montreal Can purchased a new stake in Quanta Services during the second quarter worth approximately $38,831,000. Meeder Asset Management Inc. increased its stake in Quanta Services by 111.0% in the second quarter. Meeder Asset Management Inc. now owns 71,381 shares of the company’s stock worth $1,650,000 after buying an additional 37,555 shares during the last quarter. Oakbrook Investments LLC increased its stake in Quanta Services by 16.0% in the second quarter. Oakbrook Investments LLC now owns 21,050 shares of the company’s stock worth $487,000 after buying an additional 2,900 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Quanta Services by 42.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,092,010 shares of the company’s stock worth $48,367,000 after buying an additional 620,030 shares during the last quarter. Institutional investors own 87.80% of the company’s stock.
Quanta Services Inc. (NYSE:PWR) traded up 0.92% during trading on Monday, reaching $26.45. 2,012,710 shares of the company’s stock were exchanged. The company has a market capitalization of $4.00 billion, a PE ratio of 17.87 and a beta of 0.67. The company’s 50-day moving average is $25.55 and its 200-day moving average is $23.95. Quanta Services Inc. has a 1-year low of $16.77 and a 1-year high of $27.05.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts expect that Quanta Services Inc. will post $1.55 earnings per share for the current fiscal year.
A number of analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Quanta Services from $28.00 to $32.50 and gave the stock a “buy” rating in a report on Friday. Credit Suisse Group AG restated a “buy” rating and set a $26.00 price objective on shares of Quanta Services in a report on Monday, August 8th. Deutsche Bank AG restated a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Finally, Citigroup Inc. dropped their price objective on Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.65.
In other Quanta Services 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 in the company, valued at approximately $1,059,487.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.
Quanta Services Company Profile
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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