IHT Wealth Management LLC Maintains Stake in Quanta Services, Inc. (PWR)

IHT Wealth Management LLC continued to hold its position in Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85 shares of the construction company’s stock at the close of the second quarter. IHT Wealth Management LLC’s holdings in Quanta Services were worth $162,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Quanta Services by 182.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after buying an additional 2,190 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Quanta Services by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 176,231 shares of the construction company’s stock worth $5,802,000 after purchasing an additional 6,779 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Quanta Services by 49.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 34,503 shares of the construction company’s stock worth $1,136,000 after purchasing an additional 11,388 shares in the last quarter. BlueCrest Capital Management Ltd increased its holdings in Quanta Services by 826.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 67,135 shares of the construction company’s stock worth $2,210,000 after purchasing an additional 59,887 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new stake in Quanta Services during the 2nd quarter worth approximately $5,097,000. 88.53% of the stock is currently owned by institutional investors and hedge funds.

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In related news, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total transaction of $316,350.00. Following the completion of the sale, the executive vice president now owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Michal Conaway sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $35.79, for a total transaction of $143,160.00. Following the sale, the director now directly owns 17,152 shares of the company’s stock, valued at approximately $613,870.08. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock valued at $597,550 in the last three months. 0.70% of the stock is owned by insiders.

Quanta Services, Inc. (NYSE:PWR) traded down 0.11% during trading on Thursday, hitting $37.48. The stock had a trading volume of 114,858 shares. The stock’s 50-day moving average price is $36.47 and its 200-day moving average price is $34.46. The company has a market capitalization of $5.82 billion, a P/E ratio of 21.31 and a beta of 0.83. Quanta Services, Inc. has a 1-year low of $27.29 and a 1-year high of $38.82.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. Quanta Services’s revenue was up 22.8% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. Analysts expect that Quanta Services, Inc. will post $2.03 earnings per share for the current year.

A number of analysts have commented on the company. ValuEngine lowered Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday. Seaport Global Securities reissued a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a report on Wednesday. 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. Finally, Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $41.90.

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

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