Y Intercept Hong Kong Ltd Takes $1.21 Million Position in Quanta Services, Inc. $PWR

Y Intercept Hong Kong Ltd bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,908 shares of the construction company’s stock, valued at approximately $1,205,000.

A number of other large investors also recently added to or reduced their stakes in PWR. Mn Services Vermogensbeheer B.V. lifted its stake in Quanta Services by 1.3% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 56,100 shares of the construction company’s stock worth $23,249,000 after acquiring an additional 700 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in shares of Quanta Services by 20.2% during the third quarter. UniSuper Management Pty Ltd now owns 51,206 shares of the construction company’s stock worth $21,221,000 after buying an additional 8,618 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Quanta Services by 29.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,443 shares of the construction company’s stock valued at $598,000 after purchasing an additional 330 shares during the last quarter. Gouws Capital LLC increased its holdings in Quanta Services by 3.3% in the third quarter. Gouws Capital LLC now owns 1,136 shares of the construction company’s stock valued at $471,000 after buying an additional 36 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at about $400,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PWR. Citigroup increased their target price on shares of Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. Mizuho set a $415.00 target price on shares of Quanta Services in a research note on Tuesday, October 28th. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Stifel Nicolaus raised their price objective on shares of Quanta Services from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $462.00.

Insider Activity at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the transaction, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,002 shares of company stock valued at $14,295,857 over the last three months. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $474.80 on Friday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $489.05. The firm’s 50-day moving average is $448.17 and its two-hundred day moving average is $422.55. The stock has a market capitalization of $70.80 billion, a P/E ratio of 70.34, a P/E/G ratio of 2.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.Quanta Services’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 EPS. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.