Trexquant Investment LP Buys Shares of 10,523 Quanta Services, Inc. (PWR)
Trexquant Investment LP bought a new position in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,523 shares of the construction company’s stock, valued at approximately $393,000.
A number of other institutional investors have also recently added to or reduced their stakes in PWR. Victory Capital Management Inc. increased its holdings in Quanta Services by 38.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock worth $207,871,000 after acquiring an additional 1,758,319 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Quanta Services in the 2nd quarter worth approximately $36,881,000. Renaissance Technologies LLC purchased a new stake in Quanta Services in the 2nd quarter worth approximately $35,076,000. Cannell Peter B & Co. Inc. purchased a new stake in Quanta Services during the 3rd quarter valued at approximately $34,283,000. Finally, Russell Investments Group Ltd. grew its holdings in Quanta Services by 159.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after buying an additional 580,382 shares in the last quarter. 85.97% of the stock is owned by institutional investors.
Quanta Services, Inc. (NYSE:PWR) traded down $0.51 during midday trading on Monday, hitting $37.39. The stock had a trading volume of 1,965,500 shares, compared to its average volume of 1,561,016. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The company has a market cap of $5,785.01, a P/E ratio of 19.58, a P/E/G ratio of 2.64 and a beta of 0.86. Quanta Services, Inc. has a 52-week low of $30.23 and a 52-week high of $38.82.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. equities analysts expect that Quanta Services, Inc. will post 1.77 EPS for the current fiscal year.
PWR has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a report on Thursday, September 7th. Citigroup raised shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, August 18th. Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Monday, October 16th. Seaport Global Securities reaffirmed a “buy” rating and set a $45.00 price objective (up from $41.00) on shares of Quanta Services in a report on Wednesday, October 11th. Finally, KeyCorp reaffirmed a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a report on Friday, November 3rd. 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. The company presently has a consensus rating of “Buy” and an average target price of $44.64.
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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