Quanta Services Target of Unusually High Options Trading (PWR)
Quanta Services, Inc. (NYSE:PWR) was the recipient of unusually large options trading on Thursday. Stock traders bought 3,633 put options on the stock. This represents an increase of approximately Infinity compared to the average volume of 0 put options.
Quanta Services (NYSE:PWR) opened at $35.66 on Friday. Quanta Services has a twelve month low of $27.73 and a twelve month high of $38.82. The company has a current ratio of 1.85, a quick ratio of 1.96 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5,391.22, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 2.46 and a beta of 0.87.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share 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 the consensus estimate of $2.30 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. sell-side analysts expect that Quanta Services will post 1.81 earnings per share for the current fiscal year.
PWR has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and set a $45.00 price target on shares of Quanta Services in a report on Thursday, September 7th. Credit Suisse Group restated a “buy” rating and set a $47.00 price target on shares of Quanta Services in a report on Friday, August 4th. BidaskClub upgraded Quanta Services from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, July 24th. Finally, Citigroup Inc. upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $44.20.
In other news, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the transaction, the executive vice president now owns 34,797 shares in the company, valued at $1,223,114.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Michal Conaway sold 4,000 shares of Quanta Services stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $35.79, for a total value of $143,160.00. Following the completion of the transaction, the director now owns 17,152 shares in the company, valued at approximately $613,870.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock worth $597,550. Company insiders own 0.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of PWR. Teachers Advisors LLC grew its holdings in shares of Quanta Services by 7.1% during the 1st quarter. Teachers Advisors LLC now owns 587,452 shares of the construction company’s stock worth $21,800,000 after acquiring an additional 39,111 shares during the period. Thrivent Financial For Lutherans bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $206,000. Morgan Stanley boosted its position in shares of Quanta Services by 245.9% in the 1st quarter. Morgan Stanley now owns 812,832 shares of the construction company’s stock worth $30,164,000 after purchasing an additional 577,842 shares in the last quarter. BlackRock Inc. boosted its position in shares of Quanta Services by 3,403.4% in the 1st quarter. BlackRock Inc. now owns 8,360,060 shares of the construction company’s stock worth $310,240,000 after purchasing an additional 8,121,431 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $407,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.
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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