Short Interest in Quanta Services Inc (NYSE:PWR) Expands By 15.2%

Quanta Services Inc (NYSE:PWR) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 3,284,100 shares, a growth of 15.2% from the June 30th total of 2,849,900 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is presently 2.4 days.

PWR has been the subject of several recent analyst reports. Citigroup increased their price objective on Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. DA Davidson lowered Quanta Services from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Finally, ValuEngine lowered Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $43.00.

Several large investors have recently made changes to their positions in PWR. BlackRock Inc. increased its stake in shares of Quanta Services by 23.9% in the second quarter. BlackRock Inc. now owns 10,852,772 shares of the construction company’s stock valued at $414,467,000 after buying an additional 2,091,884 shares in the last quarter. Rothschild & Co. Asset Management US Inc. acquired a new stake in shares of Quanta Services in the second quarter valued at $67,213,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Quanta Services by 9,426.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 924,060 shares of the construction company’s stock valued at $34,874,000 after buying an additional 914,360 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Quanta Services by 122.6% in the second quarter. Prudential Financial Inc. now owns 1,445,442 shares of the construction company’s stock valued at $55,201,000 after buying an additional 796,195 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Quanta Services by 38.0% in the second quarter. AQR Capital Management LLC now owns 1,862,024 shares of the construction company’s stock valued at $71,111,000 after buying an additional 512,376 shares in the last quarter. Institutional investors own 87.61% of the company’s stock.

Quanta Services stock traded down $1.24 during mid-day trading on Wednesday, hitting $32.41. 1,024,100 shares of the company were exchanged, compared to its average volume of 1,410,331. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.97 and a quick ratio of 1.93. The business has a fifty day moving average of $36.83. Quanta Services has a 1-year low of $27.90 and a 1-year high of $41.00. The company has a market capitalization of $4.88 billion, a P/E ratio of 12.81 and a beta of 1.17.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.45). Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Quanta Services will post 2.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.04 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.49%. Quanta Services’s dividend payout ratio (DPR) is presently 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.

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