Rothschild Asset Management Inc. Sells 228,759 Shares of Quanta Services, Inc. (PWR)
Rothschild Asset Management Inc. reduced its position in Quanta Services, Inc. (NYSE:PWR) by 18.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,023,490 shares of the construction company’s stock after selling 228,759 shares during the period. Rothschild Asset Management Inc. owned approximately 0.68% of Quanta Services worth $38,248,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Tower Research Capital LLC TRC raised its position in Quanta Services by 182.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after buying an additional 2,190 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Quanta Services by 22.2% during the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after purchasing an additional 840 shares during the last quarter. Commonwealth Bank of Australia purchased a new stake in shares of Quanta Services during the 2nd quarter valued at $164,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Quanta Services by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after purchasing an additional 708 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in shares of Quanta Services by 129.4% during the 2nd quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock valued at $190,000 after purchasing an additional 3,253 shares during the last quarter. Institutional investors own 85.39% of the company’s stock.
In related news, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the sale, the director now directly owns 7,506 shares in the company, valued at $259,032.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total value of $316,350.00. Following the sale, the executive vice president now owns 34,797 shares in the company, valued at $1,223,114.55. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.
Quanta Services, Inc. (NYSE:PWR) traded up $0.46 on Tuesday, hitting $36.47. The stock had a trading volume of 1,611,700 shares, compared to its average volume of 1,573,798. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. Quanta Services, Inc. has a 52-week low of $30.23 and a 52-week high of $38.82. The stock has a market capitalization of $5,570.00, a PE ratio of 18.85, a PEG ratio of 2.54 and a beta of 0.87.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year. analysts forecast that Quanta Services, Inc. will post 1.77 earnings per share for the current fiscal year.
Several research analysts have commented on the company. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Monday, October 16th. Robert W. Baird reiterated a “hold” rating and set a $39.00 price target on shares of Quanta Services in a research report on Friday, October 6th. BidaskClub downgraded Quanta Services from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a research report on Friday, August 4th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $45.00 price target (up previously from $41.00) on shares of Quanta Services in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.55.
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About Quanta Services
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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