IFC Holdings Incorporated FL Buys New Holdings in Quanta Services, Inc. (PWR)

IFC Holdings Incorporated FL bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,039 shares of the construction company’s stock, valued at approximately $226,000.

A number of other hedge funds also recently bought and sold shares of the business. A. D. Beadell Investment Counsel Inc. purchased a new position in Quanta Services during the 3rd quarter valued at about $845,000. Aperio Group LLC grew its holdings in shares of Quanta Services by 5.4% during the third quarter. Aperio Group LLC now owns 73,351 shares of the construction company’s stock worth $2,741,000 after purchasing an additional 3,759 shares in the last quarter. New England Research & Management Inc. grew its holdings in shares of Quanta Services by 10.6% during the third quarter. New England Research & Management Inc. now owns 22,175 shares of the construction company’s stock worth $829,000 after purchasing an additional 2,125 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Quanta Services by 9.2% during the third quarter. First Trust Advisors LP now owns 1,100,571 shares of the construction company’s stock worth $41,128,000 after purchasing an additional 92,922 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Quanta Services during the third quarter worth about $1,151,000. 87.18% of the stock is owned by institutional investors and hedge funds.

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In other news, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the completion of the transaction, the executive vice president now owns 34,797 shares in the company, valued at approximately $1,223,114.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total value of $138,040.00. Following the completion of the transaction, the director now owns 7,506 shares of the company’s stock, valued at approximately $259,032.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock valued at $597,550. Company insiders own 0.70% of the company’s stock.

Shares of Quanta Services, Inc. (PWR) opened at 37.73 on Wednesday. The company has a market cap of $5.85 billion, a P/E ratio of 21.45 and a beta of 0.83. The firm has a 50-day moving average price of $37.30 and a 200 day moving average price of $34.63. Quanta Services, Inc. has a 12 month low of $27.29 and a 12 month high of $38.82.

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 Zacks’ consensus estimate of $0.53 by ($0.03). The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. Quanta Services’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. Equities analysts predict that Quanta Services, Inc. will post $2.02 earnings per share for the current year.

Several research analysts have recently commented on the company. FBR & Co raised Quanta Services to an “outperform” rating and boosted their price objective for the stock from $40.00 to $45.00 in a report on Wednesday, August 9th. BidaskClub raised Quanta Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Citigroup Inc. set a $47.00 price objective on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $43.10.

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.

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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