Nicholas Investment Partners LP trimmed its holdings in shares of Quanta Services Inc (NYSE:PWR) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 333,357 shares of the construction company’s stock after selling 5,223 shares during the period. Quanta Services makes up about 0.9% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 11th largest holding. Nicholas Investment Partners LP owned 0.22% of Quanta Services worth $13,038,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PWR. Mckinley Capital Management LLC Delaware purchased a new position in shares of Quanta Services in the 3rd quarter worth $111,000. Cerebellum GP LLC purchased a new position in shares of Quanta Services in the 4th quarter worth $130,000. SSI Investment Management Inc. purchased a new position in shares of Quanta Services in the 4th quarter worth $209,000. Maple Capital Management Inc. purchased a new position in shares of Quanta Services in the 3rd quarter worth $213,000. Finally, Commerce Bank purchased a new position in shares of Quanta Services in the 4th quarter worth $222,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.
Quanta Services Inc (NYSE PWR) traded down $0.39 during midday trading on Wednesday, reaching $35.07. The company had a trading volume of 1,440,000 shares, compared to its average volume of 1,740,000. The stock has a market capitalization of $5,430.00, a P/E ratio of 22.63, a PEG ratio of 1.86 and a beta of 0.86. The company has a quick ratio of 1.87, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. Quanta Services Inc has a 12 month low of $30.23 and a 12 month high of $40.10.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company 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%. Quanta Services’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. sell-side analysts anticipate that Quanta Services Inc will post 2.41 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on PWR. B. Riley dropped their price target on Quanta Services from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. DA Davidson restated a “buy” rating on shares of Quanta Services in a research note on Thursday, February 22nd. Credit Suisse Group restated an “outperform” rating and issued a $42.00 price target (down from $46.00) on shares of Quanta Services in a research note on Friday, February 23rd. KeyCorp restated an “overweight” rating and issued a $49.00 price target (up from $46.00) on shares of Quanta Services in a research note on Friday, February 23rd. Finally, Alembic Global Advisors set a $45.00 price target on Quanta Services and gave the stock a “buy” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.15.
TRADEMARK VIOLATION WARNING: “Quanta Services Inc (PWR) Holdings Reduced by Nicholas Investment Partners LP” was reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.thelincolnianonline.com/2018/03/14/nicholas-investment-partners-lp-sells-5223-shares-of-quanta-services-inc-pwr.html.
Quanta Services 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.
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.