Luminus Management LLC boosted its holdings in Quanta Services Inc (NYSE:PWR) by 52.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,235,700 shares of the construction company’s stock after buying an additional 423,221 shares during the period. Quanta Services accounts for approximately 1.0% of Luminus Management LLC’s holdings, making the stock its 25th largest holding. Luminus Management LLC owned approximately 0.80% of Quanta Services worth $48,329,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in Quanta Services by 2.6% in the 4th quarter. BlackRock Inc. now owns 8,876,555 shares of the construction company’s stock worth $347,161,000 after buying an additional 221,461 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Quanta Services by 9.4% in the 4th quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock worth $256,029,000 after purchasing an additional 562,296 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Quanta Services by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,910,693 shares of the construction company’s stock worth $183,515,000 after purchasing an additional 212,294 shares during the period. Jennison Associates LLC raised its holdings in shares of Quanta Services by 39.9% in the 4th quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock worth $132,550,000 after purchasing an additional 966,316 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Quanta Services by 10.7% in the 4th quarter. Alliancebernstein L.P. now owns 2,328,599 shares of the construction company’s stock worth $91,072,000 after purchasing an additional 224,727 shares during the period. 83.31% of the stock is currently owned by hedge funds and other institutional investors.
PWR has been the topic of a number of research reports. Stifel Nicolaus restated a “buy” rating on shares of Quanta Services in a report on Thursday, December 14th. KeyCorp restated a “buy” rating and issued a $46.00 price objective on shares of Quanta Services in a report on Wednesday, November 29th. Alembic Global Advisors set a $45.00 price objective on Quanta Services and gave the stock a “buy” rating in a report on Friday, February 23rd. DA Davidson restated a “buy” rating on shares of Quanta Services in a report on Thursday, February 22nd. Finally, Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Quanta Services currently has a consensus rating of “Buy” and an average target price of $45.15.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.34 billion. Quanta Services had a return on equity of 7.75% and a net margin of 3.33%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. research analysts predict that Quanta Services Inc will post 2.41 earnings per share for the current 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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