Osborne Partners Capital Management LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,975 shares of the construction company’s stock after buying an additional 22,230 shares during the period. Osborne Partners Capital Management LLC owned 0.15% of Quanta Services worth $7,373,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. FTB Advisors Inc. raised its stake in Quanta Services by 140.0% in the first quarter. FTB Advisors Inc. now owns 2,873 shares of the construction company’s stock valued at $103,000 after buying an additional 1,676 shares during the period. Segantii Capital Management Ltd purchased a new stake in Quanta Services during the first quarter valued at $115,000. Ameritas Investment Partners Inc. purchased a new stake in Quanta Services during the first quarter valued at $134,000. LBA Wealth Management LLC purchased a new stake in Quanta Services during the first quarter valued at $177,000. Finally, Thrivent Financial For Lutherans purchased a new stake in Quanta Services during the first quarter valued at $206,000. Institutional investors own 89.40% of the company’s stock.
Quanta Services, Inc. (NYSE:PWR) opened at 35.61 on Friday. Quanta Services, Inc. has a 12 month low of $24.49 and a 12 month high of $38.82. The company has a market cap of $5.53 billion, a P/E ratio of 20.24 and a beta of 0.84. The stock has a 50 day moving average of $33.83 and a 200-day moving average of $34.77.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. Equities research analysts expect that Quanta Services, Inc. will post $2.03 EPS for the current year.
Quanta Services announced that its board has initiated a share repurchase program on Thursday, May 25th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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PWR has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Tuesday. FBR & Co upgraded shares of Quanta Services to an “outperform” rating and raised their price objective for the stock from $40.00 to $45.00 in a report on Wednesday. Johnson Rice upgraded shares of Quanta Services from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $43.00 in a report on Friday, August 4th. Robert W. Baird lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $38.00 in a report on Wednesday, July 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $41.11.
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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