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

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

In related news, CAO Jerry K. Lemon sold 2,750 shares of the business’s 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 approximately $449,104.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dorothy Upperman sold 5,764 shares of Quanta Services stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $43.86, for a total transaction of $252,809.04. Following the completion of the sale, the vice president now owns 13,134 shares of the company’s stock, valued at $576,057.24. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in PWR. BlackRock Inc. lifted its stake in Quanta Services by 23.9% in the 2nd quarter. BlackRock Inc. now owns 10,852,772 shares of the construction company’s stock valued at $414,467,000 after acquiring an additional 2,091,884 shares in the last quarter. Voya Investment Management LLC increased its position in Quanta Services by 18.9% during the third quarter. Voya Investment Management LLC now owns 3,903,573 shares of the construction company’s stock worth $147,554,000 after buying an additional 621,357 shares during the last quarter. Invesco Ltd. increased its position in Quanta Services by 3.3% during the second quarter. Invesco Ltd. now owns 2,220,654 shares of the construction company’s stock worth $84,806,000 after buying an additional 70,462 shares during the last quarter. AQR Capital Management LLC increased its position in Quanta Services by 38.0% during the second quarter. AQR Capital Management LLC now owns 1,862,024 shares of the construction company’s stock worth $71,111,000 after buying an additional 512,376 shares during the last quarter. Finally, Northern Trust Corp increased its position in Quanta Services by 1.5% during the second quarter. Northern Trust Corp now owns 1,431,018 shares of the construction company’s stock worth $54,650,000 after buying an additional 21,670 shares during the last quarter. Hedge funds and other institutional investors own 89.02% of the company’s stock.

PWR traded up $0.06 on Thursday, hitting $40.67. 14,926 shares of the stock traded hands, compared to its average volume of 1,124,139. Quanta Services has a 52 week low of $31.68 and a 52 week high of $44.09. The company has a current ratio of 1.82, a quick ratio of 1.80 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.78 billion, a PE ratio of 16.08, a P/E/G ratio of 0.77 and a beta of 1.22. The business has a fifty day moving average price of $40.95 and a two-hundred day moving average price of $38.64.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $1.14 earnings per share for the quarter, beating the 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 firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same quarter last year, the company posted $0.88 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Quanta Services will post 2.98 EPS for the current fiscal year.

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

PWR has been the topic of several recent research reports. DA Davidson upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, December 20th. TheStreet upgraded Quanta Services from a “c+” rating to a “b-” rating in a report on Wednesday, September 25th. Citigroup raised their target price on shares of Quanta Services from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. ValuEngine cut Quanta Services from a “hold” rating to a “sell” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird upgraded shares of Quanta Services from a “neutral” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Quanta Services currently has a consensus rating of “Buy” and a consensus price target of $45.25.

About Quanta Services

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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