Investors Buy Large Volume of Call Options on Quanta Services (PWR)

Quanta Services Inc (NYSE:PWR) saw unusually large options trading activity on Monday. Stock traders bought 930 call options on the company. This represents an increase of 594% compared to the typical daily volume of 134 call options.

Separately, Zacks Investment Research upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. Quanta Services has a consensus rating of “Buy” and an average price target of $45.23.

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Quanta Services opened at $33.65 on Wednesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 1.91. Quanta Services has a 12 month low of $32.19 and a 12 month high of $40.10. The company has a market capitalization of $5.00 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.64 and a beta of 0.88.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 3rd. The construction company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. Quanta Services had a net margin of 3.14% and a return on equity of 7.57%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. research analysts expect that Quanta Services will post 2.55 EPS for the current fiscal year.

In other Quanta Services news, insider Jerry K. Lemon sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $36.91, for a total transaction of $73,820.00. Following the sale, the insider now directly owns 11,812 shares in the company, valued at approximately $435,980.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Optimum Investment Advisors bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $101,000. Avestar Capital LLC acquired a new stake in shares of Quanta Services during the fourth quarter valued at approximately $108,000. Commerce Bank acquired a new stake in shares of Quanta Services during the fourth quarter valued at approximately $222,000. Maple Capital Management Inc. raised its holdings in shares of Quanta Services by 25.6% during the first quarter. Maple Capital Management Inc. now owns 7,612 shares of the construction company’s stock valued at $261,000 after acquiring an additional 1,550 shares during the period. Finally, Palouse Capital Management Inc. raised its holdings in shares of Quanta Services by 34.6% during the first quarter. Palouse Capital Management Inc. now owns 7,629 shares of the construction company’s stock valued at $262,000 after acquiring an additional 1,963 shares during the period. Institutional investors and hedge funds own 84.18% of the company’s stock.

About Quanta Services

Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.

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