7,000 Shares in Quanta Services Inc (PWR) Purchased by Cowen Inc.
Cowen Inc. bought a new stake in Quanta Services Inc (NYSE:PWR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,000 shares of the construction company’s stock, valued at approximately $274,000.
A number of other institutional investors also recently modified their holdings of the business. Brown Advisory Inc. boosted its position in Quanta Services by 3.8% in the third quarter. Brown Advisory Inc. now owns 38,146 shares of the construction company’s stock valued at $1,425,000 after buying an additional 1,400 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Quanta Services by 0.4% in the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 370,657 shares of the construction company’s stock valued at $14,496,000 after buying an additional 1,410 shares in the last quarter. Oakbrook Investments LLC boosted its position in Quanta Services by 12.8% in the fourth quarter. Oakbrook Investments LLC now owns 13,020 shares of the construction company’s stock valued at $509,000 after buying an additional 1,480 shares in the last quarter. Boothbay Fund Management LLC boosted its position in Quanta Services by 20.2% in the third quarter. Boothbay Fund Management LLC now owns 9,058 shares of the construction company’s stock valued at $338,000 after buying an additional 1,520 shares in the last quarter. Finally, ING Groep NV lifted its holdings in shares of Quanta Services by 12.6% during the fourth quarter. ING Groep NV now owns 14,711 shares of the construction company’s stock worth $575,000 after purchasing an additional 1,645 shares during the period. Hedge funds and other institutional investors own 83.31% of the company’s stock.
A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of Quanta Services from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Zacks Investment Research upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, February 9th. Stephens reiterated a “buy” rating and set a $49.00 price target on shares of Quanta Services in a report on Wednesday, January 31st. Credit Suisse Group reiterated an “outperform” rating and set a $42.00 price target (down previously from $46.00) on shares of Quanta Services in a report on Friday, February 23rd. Finally, KeyCorp reiterated a “buy” rating and set a $46.00 price target on shares of Quanta Services in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Quanta Services has a consensus rating of “Buy” and an average target price of $45.15.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Quanta Services had a net margin of 3.33% and a return on equity of 7.75%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the firm earned $0.56 earnings per share. Quanta Services’s quarterly revenue was up 17.8% on a year-over-year basis. analysts expect 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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