Short Interest in Quanta Services Inc (NYSE:PWR) Rises By 11.9%

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Quanta Services Inc (NYSE:PWR) saw a large growth in short interest in 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 days-to-cover ratio is currently 4.1 days. Currently, 3.9% of the company’s shares are sold short.

In other Quanta Services news, VP Dorothy Upperman sold 5,764 shares of Quanta Services stock in a transaction dated 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 owns 13,134 shares in the company, valued at approximately $576,057.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jerry K. Lemon sold 2,750 shares of Quanta Services stock in a transaction dated Tuesday, November 5th. The shares were 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 disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Banco de Sabadell S.A lifted its position in Quanta Services by 60.2% during the 3rd quarter. Banco de Sabadell S.A now owns 127,271 shares of the construction company’s stock worth $4,802,000 after acquiring an additional 47,825 shares in the last quarter. New York State Teachers Retirement System lifted its position in Quanta Services by 5.9% during the 3rd quarter. New York State Teachers Retirement System now owns 278,130 shares of the construction company’s stock worth $10,513,000 after acquiring an additional 15,406 shares in the last quarter. Keeley Teton Advisors LLC lifted its position in Quanta Services by 34.7% during the 3rd quarter. Keeley Teton Advisors LLC now owns 67,453 shares of the construction company’s stock worth $2,550,000 after acquiring an additional 17,385 shares in the last quarter. Monarch Capital Management Inc. lifted its position in Quanta Services by 8.7% during the 3rd quarter. Monarch Capital Management Inc. now owns 50,338 shares of the construction company’s stock worth $1,903,000 after acquiring an additional 4,016 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Quanta Services by 21.2% during the 3rd quarter. Stifel Financial Corp now owns 229,553 shares of the construction company’s stock worth $8,697,000 after acquiring an additional 40,142 shares in the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.

Shares of NYSE:PWR traded up $0.41 during trading on Thursday, reaching $40.65. 154,787 shares of the stock were exchanged, compared to its average volume of 1,124,139. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.80 and a current ratio of 1.82. Quanta Services has a 12-month low of $31.68 and a 12-month high of $44.09. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22. The firm’s 50-day moving average price is $40.95 and its 200 day moving average price is $38.64.

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

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

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