Quanta Services Inc (NYSE:PWR) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totalling 2,849,900 shares, a drop of 12.9% from the June 15th total of 3,271,100 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is currently 2.2 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc purchased a new position in shares of Quanta Services in the 2nd quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Quanta Services by 65.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,320 shares of the construction company’s stock worth $50,000 after purchasing an additional 520 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Quanta Services by 2,541.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock worth $55,000 after purchasing an additional 1,398 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Quanta Services in the 2nd quarter worth approximately $59,000. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Quanta Services in the 1st quarter worth approximately $62,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

NYSE PWR traded up $0.16 during trading on Friday, hitting $37.80. 913,415 shares of the stock traded hands, compared to its average volume of 895,984. The firm has a market capitalization of $5.37 billion, a P/E ratio of 14.94 and a beta of 1.18. The company has a 50-day moving average of $38.06. The company has a quick ratio of 1.95, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. Quanta Services has a 12-month low of $27.90 and a 12-month high of $41.00.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.13. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Equities analysts forecast that Quanta Services will post 3.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, June 28th. Quanta Services’s dividend payout ratio is presently 6.32%.

PWR has been the subject of several research analyst reports. DA Davidson initiated coverage on Heartland Banccorp in a research report on Tuesday, April 16th. They set a “buy” rating and a $96.00 target price for the company. Citigroup set a $47.00 price target on Quanta Services and gave the company a “buy” rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.80.

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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