Quanta Services Inc (PWR) Shares Bought by Trexquant Investment LP

Trexquant Investment LP lifted its stake in shares of Quanta Services Inc (NYSE:PWR) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,172 shares of the construction company’s stock after purchasing an additional 1,681 shares during the quarter. Trexquant Investment LP’s holdings in Quanta Services were worth $773,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PWR. Millennium Management LLC boosted its position in shares of Quanta Services by 723.0% during the 2nd quarter. Millennium Management LLC now owns 1,200,526 shares of the construction company’s stock worth $40,098,000 after purchasing an additional 1,054,653 shares in the last quarter. Hexavest Inc. boosted its position in shares of Quanta Services by 91.0% during the 3rd quarter. Hexavest Inc. now owns 1,721,605 shares of the construction company’s stock worth $57,467,000 after purchasing an additional 820,397 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Quanta Services by 368.5% in the 3rd quarter. Prudential Financial Inc. now owns 1,001,546 shares of the construction company’s stock worth $33,432,000 after acquiring an additional 787,771 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Quanta Services by 15.1% in the 2nd quarter. Bank of America Corp DE now owns 1,838,389 shares of the construction company’s stock worth $61,402,000 after acquiring an additional 240,783 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Quanta Services by 66.6% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 585,985 shares of the construction company’s stock worth $19,572,000 after acquiring an additional 234,295 shares during the last quarter. 87.79% of the stock is currently owned by institutional investors.

PWR opened at $35.10 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.25. Quanta Services Inc has a fifty-two week low of $30.25 and a fifty-two week high of $40.10. The stock has a market capitalization of $5.13 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 1st. The construction company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.09). The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.93 billion. Quanta Services had a return on equity of 8.57% and a net margin of 3.32%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Equities analysts forecast that Quanta Services Inc will post 2.51 EPS for the current fiscal year.

Quanta Services announced that its board has approved a stock buyback plan on Tuesday, September 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research restated a “hold” rating on shares of Quanta Services in a report on Wednesday, November 14th. ValuEngine upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Robert W. Baird lowered their target price on shares of Quanta Services from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Citigroup lowered their target price on shares of Quanta Services from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, Cfra restated a “buy” rating and issued a $40.00 target price on shares of Quanta Services in a report on Thursday, September 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Quanta Services currently has an average rating of “Buy” and a consensus target price of $44.80.

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About Quanta Services

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.

See Also: Beta

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

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