Miles Capital Inc. Invests $226,000 in Quanta Services Inc (NYSE:PWR)

Share on StockTwits

Miles Capital Inc. bought a new position in Quanta Services Inc (NYSE:PWR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,918 shares of the construction company’s stock, valued at approximately $226,000.

Several other hedge funds have also recently added to or reduced their stakes in PWR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Quanta Services by 3.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,264 shares of the construction company’s stock valued at $312,000 after purchasing an additional 297 shares during the period. LS Investment Advisors LLC increased its holdings in Quanta Services by 2.3% during the 2nd quarter. LS Investment Advisors LLC now owns 15,781 shares of the construction company’s stock valued at $603,000 after acquiring an additional 350 shares in the last quarter. First National Bank of Omaha increased its holdings in Quanta Services by 0.3% during the 2nd quarter. First National Bank of Omaha now owns 146,928 shares of the construction company’s stock valued at $5,611,000 after acquiring an additional 372 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Quanta Services by 5.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 8,485 shares of the construction company’s stock valued at $320,000 after acquiring an additional 412 shares in the last quarter. Finally, Peddock Capital Advisors LLC increased its holdings in Quanta Services by 2.5% during the 2nd quarter. Peddock Capital Advisors LLC now owns 18,252 shares of the construction company’s stock valued at $697,000 after acquiring an additional 447 shares in the last quarter. Institutional investors own 85.93% of the company’s stock.

PWR has been the subject of several recent research reports. Stephens set a $42.00 target price on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, August 16th. TheStreet downgraded shares of Quanta Services from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Stifel Nicolaus lifted their price target on shares of Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday. ValuEngine downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Citigroup lifted their price target on shares of Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.29.

Shares of NYSE PWR traded up $0.26 during midday trading on Friday, reaching $38.29. 76,005 shares of the stock were exchanged, compared to its average volume of 1,153,534. The company has a market capitalization of $5.44 billion, a P/E ratio of 15.19 and a beta of 1.18. Quanta Services Inc has a 52-week low of $27.90 and a 52-week high of $41.00. The company has a current ratio of 1.97, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $34.46 and a 200-day moving average price of $36.84.

Quanta Services (NYSE:PWR) last issued 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). Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts forecast that Quanta Services Inc will post 2.89 earnings per share for the current year.

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

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.

Recommended Story: What is dollar cost averaging (DCA)?

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

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.