Short Interest in Quanta Services Inc (NYSE:PWR) Expands By 45.9%

Quanta Services Inc (NYSE:PWR) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 4,793,100 shares, a growth of 45.9% from the July 31st total of 3,284,100 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is presently 3.6 days. Currently, 3.4% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently modified their holdings of the company. NEXT Financial Group Inc acquired a new stake in Quanta Services during the 2nd quarter valued at $33,000. Transamerica Financial Advisors Inc. bought a new position in shares of Quanta Services in the second quarter valued at about $37,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Quanta Services by 65.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,320 shares of the construction company’s stock valued at $50,000 after purchasing an additional 520 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Quanta Services in the second quarter valued at about $59,000. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of Quanta Services during the 1st quarter worth about $62,000. Institutional investors own 85.93% of the company’s stock.

Shares of PWR stock traded down $0.16 on Wednesday, reaching $38.11. The stock had a trading volume of 2,682,830 shares, compared to its average volume of 1,398,594. Quanta Services has a 12 month low of $27.90 and a 12 month high of $41.00. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 15.06 and a beta of 1.18. The firm’s 50-day moving average is $34.46 and its two-hundred day moving average is $36.84. The company has a quick ratio of 1.93, a current ratio of 1.97 and a debt-to-equity ratio of 0.45.



Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.45). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.89 billion. Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS. On average, sell-side analysts forecast that Quanta Services will post 2.9 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.04 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.42%. Quanta Services’s payout ratio is 6.32%.

A number of research analysts have weighed in on PWR shares. Stephens set a $42.00 price target on Quanta Services and gave the company a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus upped their price objective on Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup increased their price objective on Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Vertical Research initiated coverage on Quanta Services in a report on Friday, August 23rd. They issued a “buy” rating and a $41.00 price objective for the company. Finally, TheStreet cut shares of Quanta Services from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $43.29.

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.

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