Stevens Capital Management LP acquired a new position in Quanta Services Inc (NYSE:PWR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 90,086 shares of the construction company’s stock, valued at approximately $3,440,000.
A number of other hedge funds also recently bought and sold shares of the stock. NEXT Financial Group Inc acquired a new stake in Quanta Services during the 2nd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Quanta Services by 65.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,320 shares of the construction company’s stock valued at $50,000 after buying an additional 520 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Quanta Services by 2,541.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock valued at $55,000 after buying an additional 1,398 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at $59,000. Finally, Wakefield Asset Management LLLP acquired a new position in shares of Quanta Services in the 1st quarter valued at $62,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.
PWR has been the subject of several research analyst reports. ValuEngine lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup boosted their price target on shares of Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Quanta Services currently has an average rating of “Hold” and a consensus price target of $43.00.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.45). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.89 billion. Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. Quanta Services’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Research analysts expect that Quanta Services Inc will post 2.9 earnings per share for the current year.
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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