Tygh Capital Management Inc. Purchases 50,569 Shares of Quanta Services, Inc. (PWR)
Tygh Capital Management Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 46.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,573 shares of the construction company’s stock after buying an additional 50,569 shares during the quarter. Tygh Capital Management Inc. owned approximately 0.11% of Quanta Services worth $5,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in PWR. Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 3.6% in the second quarter. Vanguard Group Inc. now owns 14,732,602 shares of the construction company’s stock worth $484,998,000 after acquiring an additional 511,917 shares during the period. BlackRock Inc. increased its holdings in Quanta Services by 1.3% during the 2nd quarter. BlackRock Inc. now owns 8,465,126 shares of the construction company’s stock valued at $278,671,000 after purchasing an additional 105,066 shares during the period. Victory Capital Management Inc. increased its holdings in Quanta Services by 38.6% during the 2nd quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock valued at $207,871,000 after purchasing an additional 1,758,319 shares during the period. Dimensional Fund Advisors LP increased its holdings in Quanta Services by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,698,399 shares of the construction company’s stock valued at $154,657,000 after purchasing an additional 56,136 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its holdings in Quanta Services by 4.8% during the 2nd quarter. Kovitz Investment Group Partners LLC now owns 2,771,842 shares of the construction company’s stock valued at $91,249,000 after purchasing an additional 126,103 shares during the period. 86.82% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on PWR. KeyCorp restated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a report on Friday. FBR & Co upgraded Quanta Services to an “outperform” rating and boosted their price target for the company from $40.00 to $45.00 in a report on Wednesday, August 9th. Robert W. Baird lifted their price objective on Quanta Services from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday. BidaskClub raised Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Zacks Investment Research cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Quanta Services currently has an average rating of “Buy” and a consensus price target of $44.20.
In related news, Director John Michal Conaway sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $35.79, for a total value of $143,160.00. Following the transaction, the director now directly owns 17,152 shares of the company’s stock, valued at approximately $613,870.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 34,797 shares in the company, valued at $1,223,114.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,000 shares of company stock worth $597,550. Insiders own 0.70% of the company’s stock.
Shares of Quanta Services, Inc. (PWR) traded up $0.65 on Tuesday, hitting $36.31. The stock had a trading volume of 1,475,317 shares, compared to its average volume of 1,130,000. 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, Inc. has a 12-month low of $28.36 and a 12-month high of $38.82. The company has a market cap of $5,560.00, a PE ratio of 18.67, a P/E/G ratio of 2.46 and a beta of 0.87.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 posted $0.55 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. sell-side analysts forecast that Quanta Services, Inc. will post 1.81 EPS for the current fiscal year.
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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