Moors & Cabot Inc. reduced its position in Quanta Services Inc (NYSE:PWR) by 18.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,025 shares of the construction company’s stock after selling 3,500 shares during the quarter. Moors & Cabot Inc.’s holdings in Quanta Services were worth $594,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PWR. Jennison Associates LLC boosted its position in shares of Quanta Services by 39.9% in the fourth quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock valued at $132,550,000 after acquiring an additional 966,316 shares during the period. Cannell Peter B & Co. Inc. bought a new stake in Quanta Services during the third quarter valued at approximately $34,283,000. Russell Investments Group Ltd. lifted its position in Quanta Services by 159.7% during the third quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after purchasing an additional 580,382 shares during the last quarter. Victory Capital Management Inc. lifted its position in Quanta Services by 9.4% during the fourth quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock valued at $256,029,000 after purchasing an additional 562,296 shares during the last quarter. Finally, Anchor Bolt Capital LP bought a new stake in Quanta Services during the third quarter valued at approximately $15,777,000. Institutional investors own 83.31% of the company’s stock.
Several equities research analysts have issued reports on the stock. Alembic Global Advisors set a $45.00 target price on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, February 23rd. KeyCorp reiterated an “overweight” rating and set a $49.00 target price (up from $46.00) on shares of Quanta Services in a research report on Friday, February 23rd. B. Riley dropped their target price on shares of Quanta Services from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, February 26th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 target price on shares of Quanta Services in a research report on Friday, January 26th. Finally, DA Davidson reiterated a “buy” rating on shares of Quanta Services in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Quanta Services presently has a consensus rating of “Buy” and an average price target of $45.15.
Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.34 billion. Quanta Services had a net margin of 3.33% and a return on equity of 7.75%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. equities analysts forecast that Quanta Services Inc will post 2.41 EPS for the current fiscal year.
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Quanta Services 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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