Verition Fund Management LLC Decreases Position in Quanta Services Inc (PWR)
Verition Fund Management LLC trimmed its position in Quanta Services Inc (NYSE:PWR) by 12.4% in the fourth quarter, HoldingsChannel reports. The firm owned 13,321 shares of the construction company’s stock after selling 1,883 shares during the quarter. Verition Fund Management LLC’s holdings in Quanta Services were worth $521,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of PWR. State of Wisconsin Investment Board grew its stake in Quanta Services by 6.2% in the third quarter. State of Wisconsin Investment Board now owns 32,760 shares of the construction company’s stock worth $1,224,000 after purchasing an additional 1,920 shares in the last quarter. Toronto Dominion Bank grew its stake in Quanta Services by 5.4% in the third quarter. Toronto Dominion Bank now owns 50,963 shares of the construction company’s stock worth $1,903,000 after purchasing an additional 2,609 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Quanta Services by 21.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,300 shares of the construction company’s stock valued at $1,917,000 after acquiring an additional 8,970 shares during the period. Russell Investments Group Ltd. boosted its stake in Quanta Services by 159.7% in the third quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after acquiring an additional 580,382 shares during the period. Finally, Commonwealth Equity Services Inc boosted its stake in Quanta Services by 178.0% in the third quarter. Commonwealth Equity Services Inc now owns 17,400 shares of the construction company’s stock valued at $650,000 after acquiring an additional 11,141 shares during the period. Institutional investors and hedge funds own 86.29% of the company’s stock.
PWR has been the subject of a number of research reports. KeyCorp restated a “buy” rating and issued a $46.00 target price on shares of Quanta Services in a research note on Wednesday, November 29th. Stifel Nicolaus reiterated a “buy” rating on shares of Quanta Services in a research report on Thursday, December 14th. Robert W. Baird set a $42.00 price objective on Quanta Services and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Finally, Stephens reiterated a “buy” rating and set a $49.00 price objective on shares of Quanta Services in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $45.15.
Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Quanta Services had a return on equity of 7.75% and a net margin of 3.33%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 earnings per share. equities research analysts forecast that Quanta Services Inc will post 2.41 EPS for the current fiscal year.
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Quanta Services Company 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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