Anderson Hoagland & Co. lowered its stake in Quanta Services Inc (NYSE:PWR) by 29.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,378 shares of the construction company’s stock after selling 23,995 shares during the period. Anderson Hoagland & Co.’s holdings in Quanta Services were worth $2,092,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in PWR. Norges Bank purchased a new position in Quanta Services during the fourth quarter valued at approximately $42,563,000. Ardevora Asset Management LLP purchased a new position in Quanta Services during the fourth quarter valued at approximately $27,587,000. Russell Investments Group Ltd. purchased a new position in Quanta Services during the fourth quarter valued at approximately $23,848,000. Rothschild Asset Management Inc. purchased a new position in Quanta Services during the third quarter valued at approximately $17,925,000. Finally, Rail Splitter Capital Management LLC purchased a new position in Quanta Services during the third quarter valued at approximately $11,548,000. Institutional investors and hedge funds own 93.05% of the company’s stock.
Shares of Quanta Services Inc (NYSE:PWR) traded up 0.46% during trading on Thursday, reaching $35.21. 1,319,211 shares of the company were exchanged. The stock has a 50-day moving average of $36.51 and a 200 day moving average of $34.07. The stock has a market capitalization of $5.32 billion, a P/E ratio of 27.99 and a beta of 0.69. Quanta Services Inc has a 52-week low of $21.60 and a 52-week high of $38.82.
Quanta Services (NYSE:PWR) last issued its earnings results on Tuesday, February 21st. The construction company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Quanta Services had a return on equity of 5.53% and a net margin of 1.42%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $0.30 EPS. Quanta Services’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that Quanta Services Inc will post $1.95 earnings per share for the current fiscal year.
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PWR has been the subject of several recent research reports. Citigroup Inc upped their price target on shares of Quanta Services from $31.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Zacks Investment Research lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th. Stifel Nicolaus upped their price target on shares of Quanta Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Credit Suisse Group AG restated a “buy” rating and set a $43.00 price target on shares of Quanta Services in a research report on Wednesday, February 22nd. Finally, DA Davidson restated a “buy” rating on shares of Quanta Services in a research report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.38.
In other news, Director Patrick Wood III sold 5,000 shares of Quanta Services stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $38.08, for a total transaction of $190,400.00. Following the transaction, the director now owns 11,506 shares in the company, valued at approximately $438,148.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nicholas M. Grindstaff sold 27,000 shares of Quanta Services stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $38.20, for a total value of $1,031,400.00. Following the transaction, the vice president now owns 23,659 shares in the company, valued at approximately $903,773.80. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.
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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