Los Angeles Capital Management & Equity Research Inc. trimmed its position in Quanta Services Inc (NYSE:PWR) by 94.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,700 shares of the construction company’s stock after selling 167,126 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Quanta Services were worth $292,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in PWR. Private Capital Group LLC increased its stake in Quanta Services by 79.6% in the fourth quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock valued at $51,000 after acquiring an additional 749 shares during the last quarter. Federated Investors Inc. PA increased its stake in Quanta Services by 83.9% in the third quarter. Federated Investors Inc. PA now owns 3,203 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,461 shares during the last quarter. Synovus Financial Corp increased its stake in Quanta Services by 119.9% in the fourth quarter. Synovus Financial Corp now owns 3,738 shares of the construction company’s stock valued at $112,000 after acquiring an additional 2,038 shares during the last quarter. Rampart Investment Management Company LLC increased its stake in Quanta Services by 217.6% in the third quarter. Rampart Investment Management Company LLC now owns 4,990 shares of the construction company’s stock valued at $167,000 after acquiring an additional 3,419 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Quanta Services by 87.4% in the third quarter. Captrust Financial Advisors now owns 5,719 shares of the construction company’s stock valued at $191,000 after acquiring an additional 2,667 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 price objective on the stock in a research note on Monday, February 25th. ValuEngine raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Citigroup set a $46.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, February 22nd. Finally, B. Riley reissued a “buy” rating and issued a $47.00 price objective (down from $56.00) on shares of Quanta Services in a research note on Monday, March 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.60.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 21st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Quanta Services had a net margin of 2.63% and a return on equity of 10.63%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that Quanta Services Inc will post 3.24 earnings per share for the current year.
In other Quanta Services news, EVP Donald Wayne sold 1,295 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.09, for a total transaction of $46,736.55. Following the sale, the executive vice president now owns 30,054 shares of the company’s stock, valued at $1,084,648.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin bought 25,500 shares of the firm’s stock in a transaction on Wednesday, December 19th. The shares were bought at an average cost of $29.40 per share, for a total transaction of $749,700.00. Following the purchase, the chief executive officer now owns 441,647 shares of the company’s stock, valued at approximately $12,984,421.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 52,060 shares of company stock worth $1,538,702. Insiders own 0.74% of the company’s stock.
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Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
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