Wesbanco Bank Inc. raised its holdings in shares of Quanta Services Inc (NYSE:PWR) by 1,112.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,080 shares of the construction company’s stock after purchasing an additional 104,674 shares during the period. Wesbanco Bank Inc. owned 0.08% of Quanta Services worth $3,919,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PWR. Optimum Investment Advisors bought a new position in Quanta Services during the 1st quarter valued at approximately $101,000. Avestar Capital LLC bought a new position in Quanta Services during the 4th quarter valued at approximately $108,000. Commerce Bank bought a new position in Quanta Services during the 4th quarter valued at approximately $222,000. Maple Capital Management Inc. raised its position in Quanta Services by 25.6% during the 1st quarter. Maple Capital Management Inc. now owns 7,612 shares of the construction company’s stock valued at $261,000 after purchasing an additional 1,550 shares during the last quarter. Finally, Palouse Capital Management Inc. raised its position in Quanta Services by 34.6% during the 1st quarter. Palouse Capital Management Inc. now owns 7,629 shares of the construction company’s stock valued at $262,000 after purchasing an additional 1,963 shares during the last quarter. 84.15% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on PWR. Alembic Global Advisors set a $45.00 price target on Quanta Services and gave the company a “buy” rating in a research report on Friday, February 23rd. Zacks Investment Research raised Quanta Services from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, May 9th. DA Davidson reaffirmed a “buy” rating on shares of Quanta Services in a research report on Thursday, February 22nd. B. Riley reduced their target price on Quanta Services from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, February 26th. Finally, KeyCorp reiterated an “overweight” rating and set a $49.00 target price (up previously from $46.00) on shares of Quanta Services in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.23.
Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, May 3rd. The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.08 billion. Quanta Services had a net margin of 3.14% and a return on equity of 7.57%. Quanta Services’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. analysts expect that Quanta Services Inc will post 2.55 EPS for the current year.
In related news, insider Jerry K. Lemon sold 2,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $36.91, for a total transaction of $73,820.00. Following the transaction, the insider now directly owns 11,812 shares of the company’s stock, valued at $435,980.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.74% of the company’s stock.
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.
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services Inc (NYSE:PWR).
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.