Commonwealth Bank of Australia Has $1.03 Million Holdings in Quanta Services, Inc. (PWR)
Commonwealth Bank of Australia boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 452.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,600 shares of the construction company’s stock after acquiring an additional 22,600 shares during the quarter. Commonwealth Bank of Australia’s holdings in Quanta Services were worth $1,028,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Tower Research Capital LLC TRC raised its position in Quanta Services by 182.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after acquiring an additional 2,190 shares in the last quarter. Bessemer Group Inc. raised its position in Quanta Services by 22.2% during the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after acquiring an additional 840 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Quanta Services by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock worth $189,000 after acquiring an additional 708 shares in the last quarter. Global X Management Co. LLC raised its position in Quanta Services by 129.4% during the second quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock worth $190,000 after acquiring an additional 3,253 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Quanta Services during the third quarter worth $209,000. 85.97% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on PWR. Zacks Investment Research lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Citigroup set a $47.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 27th. Robert W. Baird reaffirmed a “hold” rating and set a $39.00 price target on shares of Quanta Services in a research report on Friday, October 6th. ValuEngine downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $45.00 price objective (up from $41.00) on shares of Quanta Services in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.64.
Quanta Services, Inc. (NYSE PWR) traded down $0.38 during trading hours on Wednesday, hitting $38.42. 1,796,800 shares of the company’s stock traded hands, compared to its average volume of 1,567,091. Quanta Services, Inc. has a 12-month low of $30.23 and a 12-month high of $39.20. The firm has a market capitalization of $6,003.17, a P/E ratio of 20.31, a P/E/G ratio of 2.74 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.80 and a current ratio of 1.85.
Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 27.8% on a year-over-year basis. equities research analysts expect that Quanta Services, Inc. will post 1.77 earnings per share for the current year.
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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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