Schwab Charles Investment Management Inc. Boosts Stake in Quanta Services Inc (PWR)
Schwab Charles Investment Management Inc. grew its stake in shares of Quanta Services Inc (NYSE:PWR) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 826,428 shares of the construction company’s stock after buying an additional 90,651 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.53% of Quanta Services worth $30,884,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of PWR. Fox Run Management L.L.C. bought a new position in shares of Quanta Services during the 3rd quarter valued at $1,151,000. Cipher Capital LP grew its holdings in shares of Quanta Services by 873.6% during the 2nd quarter. Cipher Capital LP now owns 215,010 shares of the construction company’s stock valued at $7,078,000 after purchasing an additional 192,926 shares during the last quarter. 1060 Capital LLC grew its holdings in shares of Quanta Services by 94.7% during the 2nd quarter. 1060 Capital LLC now owns 632,811 shares of the construction company’s stock valued at $20,832,000 after purchasing an additional 307,811 shares during the last quarter. BP Capital Fund Advisors LLC bought a new position in shares of Quanta Services during the 2nd quarter valued at $3,915,000. Finally, Capital Fund Management S.A. grew its holdings in shares of Quanta Services by 1,837.5% during the 2nd quarter. Capital Fund Management S.A. now owns 559,760 shares of the construction company’s stock valued at $18,427,000 after purchasing an additional 530,869 shares during the last quarter. Hedge funds and other institutional investors own 86.11% of the company’s stock.
PWR has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 target price on shares of Quanta Services in a report on Thursday, September 7th. Citigroup set a $47.00 target price on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 27th. B. Riley increased their target price on shares of Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. KeyCorp reaffirmed a “buy” rating and set a $45.00 target price on shares of Quanta Services in a report on Friday, November 3rd. Finally, Robert W. Baird increased their target price on shares of Quanta Services from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. One research 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 stock currently has an average rating of “Buy” and an average target price of $44.64.
Shares of Quanta Services Inc (NYSE:PWR) traded up $0.95 during trading on Monday, reaching $39.40. 1,364,500 shares of the company’s stock were exchanged, compared to its average volume of 1,562,984. The company has a market cap of $6,096.00, a price-to-earnings ratio of 20.63, a PEG ratio of 2.78 and a beta of 0.86. Quanta Services Inc has a 1-year low of $30.23 and a 1-year high of $39.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.80 and a current ratio of 1.85.
Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. sell-side analysts expect that Quanta Services Inc will post 1.77 earnings per share for the current year.
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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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