Quanta Services Inc (NYSE:PWR) Sees Large Increase in Short Interest

Quanta Services Inc (NYSE:PWR) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,460,000 shares, a growth of 11.9% from the December 15th total of 4,880,000 shares. Based on an average daily trading volume, of 1,320,000 shares, the short-interest ratio is currently 4.1 days. Approximately 3.9% of the company’s shares are sold short.

Several research analysts recently issued reports on the stock. DA Davidson raised shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, December 20th. TheStreet raised shares of Quanta Services from a “c+” rating to a “b-” rating in a research report on Wednesday, September 25th. Citigroup boosted their target price on Quanta Services from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird upgraded Quanta Services from a “neutral” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Quanta Services presently has an average rating of “Buy” and an average price target of $45.25.

In other Quanta Services news, VP Dorothy Upperman sold 5,764 shares of Quanta Services stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $43.86, for a total value of $252,809.04. Following the completion of the sale, the vice president now directly owns 13,134 shares in the company, valued at $576,057.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jerry K. Lemon sold 2,750 shares of Quanta Services stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.70, for a total value of $120,175.00. Following the completion of the sale, the chief accounting officer now owns 10,277 shares of the company’s stock, valued at $449,104.90. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Cerebellum GP LLC increased its position in shares of Quanta Services by 18.4% during the 4th quarter. Cerebellum GP LLC now owns 13,033 shares of the construction company’s stock valued at $531,000 after purchasing an additional 2,027 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Quanta Services by 39.3% during the 4th quarter. AE Wealth Management LLC now owns 37,284 shares of the construction company’s stock valued at $1,518,000 after purchasing an additional 10,513 shares during the last quarter. Boenning & Scattergood Inc. purchased a new stake in shares of Quanta Services during the 4th quarter valued at $547,000. Endurance Wealth Management Inc. increased its position in shares of Quanta Services by 1.3% during the 4th quarter. Endurance Wealth Management Inc. now owns 145,299 shares of the construction company’s stock valued at $5,915,000 after purchasing an additional 1,900 shares during the last quarter. Finally, BKD Wealth Advisors LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at $299,000. Hedge funds and other institutional investors own 89.02% of the company’s stock.

NYSE:PWR traded up $0.06 during trading hours on Thursday, hitting $40.67. 14,926 shares of the company traded hands, compared to its average volume of 1,124,139. The company has a quick ratio of 1.80, a current ratio of 1.82 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $40.95 and its 200-day simple moving average is $38.64. Quanta Services has a one year low of $31.68 and a one year high of $44.09. The company has a market cap of $5.78 billion, a PE ratio of 16.08, a PEG ratio of 0.77 and a beta of 1.22.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.17. Quanta Services had a net margin of 2.81% and a return on equity of 12.17%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that Quanta Services will post 2.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. This is an increase from Quanta Services’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, December 31st. Quanta Services’s dividend payout ratio is presently 7.91%.

Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

Further Reading: Portfolio Manager

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