Miles Capital Inc. acquired a new position in shares of Quanta Services Inc (NYSE:PWR) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 5,918 shares of the construction company’s stock, valued at approximately $226,000.
A number of other institutional investors also recently added to or reduced their stakes in PWR. Swiss National Bank lifted its holdings in shares of Quanta Services by 1.1% in the first quarter. Swiss National Bank now owns 267,035 shares of the construction company’s stock valued at $10,078,000 after purchasing an additional 3,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Quanta Services by 0.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 927,549 shares of the construction company’s stock worth $35,423,000 after buying an additional 3,489 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in Quanta Services in the first quarter worth $279,000. Cadence Bank NA purchased a new stake in Quanta Services in the first quarter worth $265,000. Finally, AlphaCrest Capital Management LLC increased its position in Quanta Services by 25.4% in the first quarter. AlphaCrest Capital Management LLC now owns 15,802 shares of the construction company’s stock worth $596,000 after buying an additional 3,202 shares during the last quarter. Hedge funds and other institutional investors own 85.93% of the company’s stock.
PWR has been the subject of a number of recent research reports. TheStreet downgraded Quanta Services from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Citigroup raised their target price on Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Vertical Research initiated coverage on Quanta Services in a research report on Friday, August 23rd. They issued a “buy” rating and a $41.00 target price for the company. Stifel Nicolaus raised their target price on Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stephens set a $42.00 target price on Quanta Services and gave the stock a “buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Quanta Services presently has an average rating of “Hold” and a consensus price target of $43.29.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.45). Quanta Services had a net margin of 2.80% and a return on equity of 11.41%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business posted $0.59 EPS. Quanta Services’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Quanta Services Inc will post 2.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.04 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.42%. Quanta Services’s dividend payout ratio is currently 6.32%.
Quanta Services Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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