Stock Traders Purchase Large Volume of Put Options on Quanta Services (PWR)
Quanta Services Inc (NYSE:PWR) saw some unusual options trading activity on Monday. Investors acquired 1,130 put options on the company. This represents an increase of approximately 549% compared to the typical volume of 174 put options.
A number of equities research analysts recently weighed in on the stock. B. Riley lifted their price objective on shares of Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. KeyCorp reiterated a “buy” rating and issued a $46.00 price objective on shares of Quanta Services in a research report on Wednesday, November 29th. ValuEngine lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price objective on shares of Quanta Services in a research report on Thursday, September 7th. Finally, Citigroup set a $47.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.64.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new stake in Quanta Services during the third quarter worth approximately $111,000. Tower Research Capital LLC TRC grew its stake in Quanta Services by 182.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after buying an additional 2,190 shares in the last quarter. Commonwealth Bank of Australia purchased a new position in Quanta Services in the 2nd quarter valued at approximately $164,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Quanta Services by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after buying an additional 708 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new position in Quanta Services in the 3rd quarter valued at approximately $209,000. 85.82% of the stock is owned by institutional investors and hedge funds.
Shares of Quanta Services (NYSE PWR) opened at $39.48 on Thursday. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6,100.00, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.78 and a beta of 0.86. Quanta Services has a fifty-two week low of $30.23 and a fifty-two week high of $39.70.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company posted $0.55 EPS. Quanta Services’s quarterly revenue was up 27.8% on a year-over-year basis. equities research analysts forecast that Quanta Services will post 1.77 earnings per share for the current fiscal year.
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About Quanta Services
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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