Mcrae Capital Management Inc. boosted its stake in Quanta Services (NYSE:PWR) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,700 shares of the construction company’s stock after purchasing an additional 1,900 shares during the period. Quanta Services comprises 2.1% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 21st largest position. Mcrae Capital Management Inc. owned 0.09% of Quanta Services worth $4,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in PWR. Schwab Charles Investment Management Inc. increased its stake in Quanta Services by 4.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 861,109 shares of the construction company’s stock worth $33,678,000 after purchasing an additional 34,681 shares during the period. Oakbrook Investments LLC increased its stake in Quanta Services by 12.8% in the 4th quarter. Oakbrook Investments LLC now owns 13,020 shares of the construction company’s stock worth $509,000 after purchasing an additional 1,480 shares during the period. State of Alaska Department of Revenue increased its stake in Quanta Services by 57.1% in the 4th quarter. State of Alaska Department of Revenue now owns 26,150 shares of the construction company’s stock worth $1,022,000 after purchasing an additional 9,500 shares during the period. Ingalls & Snyder LLC purchased a new position in Quanta Services in the 4th quarter worth approximately $301,000. Finally, Chevy Chase Trust Holdings Inc. increased its stake in Quanta Services by 0.4% in the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 370,657 shares of the construction company’s stock worth $14,496,000 after purchasing an additional 1,410 shares during the period. 84.20% of the stock is currently owned by institutional investors and hedge funds.
Quanta Services opened at $36.92 on Tuesday, according to MarketBeat. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 1.91. Quanta Services has a twelve month low of $30.23 and a twelve month high of $40.10. The company has a market cap of $5.48 billion, a P/E ratio of 20.74, a PEG ratio of 1.80 and a beta of 0.87.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 3rd. The construction company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Quanta Services had a return on equity of 7.57% and a net margin of 3.14%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. research analysts predict that Quanta Services will post 2.55 EPS for the current fiscal year.
PWR has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research note on Friday, January 26th. Stephens reiterated a “buy” rating and issued a $49.00 price objective on shares of Quanta Services in a research report on Wednesday, January 31st. Citigroup lifted their price objective on Quanta Services from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. 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 research report on Friday, February 9th. Finally, Alembic Global Advisors set a $45.00 price objective on Quanta Services and gave the stock a “buy” rating in a research report on Friday, February 23rd. One equities research 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. The stock presently has an average rating of “Buy” and a consensus price target of $45.23.
Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
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