Highland Capital Management LLC Invests $1.02 Million in Quanta Services Inc (PWR) Stock

Highland Capital Management LLC acquired a new stake in shares of Quanta Services Inc (NYSE:PWR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 30,500 shares of the construction company’s stock, valued at approximately $1,018,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Woods Capital Investors LLC lifted its holdings in Quanta Services by 15.0% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,500 shares of the construction company’s stock worth $684,000 after buying an additional 1,500 shares in the last quarter. Peddock Capital Advisors LLC lifted its holdings in Quanta Services by 7.8% in the 2nd quarter. Peddock Capital Advisors LLC now owns 21,388 shares of the construction company’s stock worth $714,000 after buying an additional 1,542 shares in the last quarter. Ramsey Quantitative Systems lifted its holdings in Quanta Services by 20.2% in the 2nd quarter. Ramsey Quantitative Systems now owns 10,375 shares of the construction company’s stock worth $347,000 after buying an additional 1,741 shares in the last quarter. Greenwood Capital Associates LLC lifted its holdings in Quanta Services by 21.5% in the 2nd quarter. Greenwood Capital Associates LLC now owns 10,739 shares of the construction company’s stock worth $359,000 after buying an additional 1,900 shares in the last quarter. Finally, Palouse Capital Management Inc. raised its stake in shares of Quanta Services by 25.8% in the 2nd quarter. Palouse Capital Management Inc. now owns 9,594 shares of the construction company’s stock valued at $320,000 after purchasing an additional 1,965 shares in the last quarter. 85.42% of the stock is owned by institutional investors.

NYSE PWR traded down $0.50 on Friday, hitting $34.84. The stock had a trading volume of 1,812,800 shares, compared to its average volume of 1,512,460. Quanta Services Inc has a one year low of $30.25 and a one year high of $40.10. The company has a current ratio of 1.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.25. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.76 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 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.93 billion. Quanta Services had a return on equity of 8.57% and a net margin of 3.32%. Quanta Services’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. As a group, equities research analysts expect that Quanta Services Inc will post 2.52 earnings per share for the current fiscal year.

Quanta Services declared that its board has initiated a stock repurchase plan on Tuesday, September 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

PWR has been the topic of a number of recent analyst reports. B. Riley upped their target price on shares of Quanta Services from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Monday, July 23rd. ValuEngine lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Robert W. Baird cut their target price on shares of Quanta Services from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, November 2nd. Finally, Cfra reiterated a “buy” rating and set a $40.00 price objective on shares of Quanta Services in a research note on Thursday, September 6th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Quanta Services has a consensus rating of “Buy” and a consensus target price of $44.80.

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Quanta Services Profile

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.

Further Reading: Cash Flow

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

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