Castleark Management LLC cut its position in shares of Quanta Services Inc (NYSE:PWR) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 411,740 shares of the construction company’s stock after selling 1,710 shares during the quarter. Castleark Management LLC owned 0.27% of Quanta Services worth $16,103,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of PWR. Tide Point Capital Management LP acquired a new position in Quanta Services during the fourth quarter worth $43,316,000. Jennison Associates LLC raised its holdings in Quanta Services by 39.9% during the fourth quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock worth $132,550,000 after purchasing an additional 966,316 shares during the last quarter. Cannell Peter B & Co. Inc. acquired a new position in Quanta Services during the third quarter worth $34,283,000. Caxton Associates LP raised its holdings in Quanta Services by 1,325.4% during the fourth quarter. Caxton Associates LP now owns 926,529 shares of the construction company’s stock worth $36,237,000 after purchasing an additional 861,529 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings 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 worth $35,267,000 after purchasing an additional 580,382 shares during the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on PWR. Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Robert W. Baird set a $42.00 price target on Quanta Services and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a report on Friday, January 26th. Stephens reissued a “buy” rating and issued a $49.00 price target on shares of Quanta Services in a report on Wednesday, January 31st. Finally, KeyCorp reissued a “buy” rating and issued a $46.00 price target on shares of Quanta Services in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.15.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.34 billion. Quanta Services had a return on equity of 7.75% and a net margin of 3.33%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. equities analysts predict 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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