Creative Planning has increased its stake in Quanta Services, a construction company, by 16.8% during the second quarter. This move was confirmed in the company’s 13F filing with the Securities & Exchange Commission. The institutional investor now owns 16,691 shares of Quanta Services, worth $3,279,000. Other institutional investors and hedge funds have also recently bought or sold shares in Quanta Services.
During the first quarter, Norges Bank acquired a new position in Quanta Services worth approximately $180,853,000. FMR LLC increased its position by 19.7% during the same period. Great Lakes Advisors LLC and Royal Bank of Canada also made significant investments. Vontobel Holding Ltd. boosted its stake in Quanta Services by 80.5%.
Quanta Services’ stock opened at $173.89 on Tuesday. It has a 50-day simple moving average of $197.87 and a two-hundred day simple moving average of $185.94. The company has a market cap of $25.25 billion.
Quanta Services recently reported its earnings results for the quarter, with an EPS of $1.47, missing the consensus estimate by ($0.06). The company had revenue of $5.05 billion during the same period.
The company also announced a quarterly dividend, with a payment date of October 13th. Shareholders of record on October 2nd will receive a $0.08 dividend.
In other news, EVP Donald Wayne sold 5,000 shares of Quanta Services’ stock. Several brokerages have issued reports on PWR, with a range of ratings from hold to buy.
Quanta Services provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries globally.
– 13F Filing: A filing required by the SEC that must be submitted by institutional investment managers that manage $100 million or more in assets. It discloses their holdings of publicly traded securities.
– Securities and Exchange Commission (SEC): The U.S. government agency responsible for enforcing securities laws and regulating the securities industry.
– Institutional Investor: An organization that invests on behalf of others, such as pension funds, insurance companies, or mutual funds.
– Hedge Fund: An investment vehicle that pools money from accredited investors and invests in a variety of assets with the goal of high returns.
– Stake: The ownership interest a person or entity has in a company, usually represented by the number of shares owned.
– Earnings Per Share (EPS): The portion of a company’s profit allocated to each outstanding share of common stock, serving as an indicator of a company’s profitability.
– Dividend: A payment made by a corporation to its shareholders, usually in cash, as a distribution of profits.
– Ex-Dividend Date: The first day on which a stock trades without the dividend included in the share price. Shareholders who purchase the stock on or after this date are not entitled to receive the declared dividend.
– Beta: A measure of a stock’s price volatility in relation to the overall market. A beta greater than 1 indicates a higher volatility compared to the market, while a beta less than 1 indicates lower volatility.
– Return on Equity: A profitability ratio that measures how well a company is using its shareholders’ equity to generate profit.
– Net Margin: The percentage of revenue that remains as profit after all expenses have been deducted.
– Price-to-Earnings Ratio (P/E Ratio): The ratio of a company’s share price to its earnings per share, used to evaluate a company’s valuation relative to its earnings.
– Market Cap: The total value of a company’s outstanding shares of stock, calculated by multiplying the stock price by the number of shares outstanding.
– Moving Average: A statistical calculation that is used to analyze data points by creating a series of averages of different subsets of the full data set.
– Consensus Estimate: The average forecast of a particular financial metric, such as earnings or revenue, made by multiple analysts.
– Insider: A person who has access to non-public information about a company and trades on that information, often considered illegal.
– SEC Filing: A formal document submitted to the Securities and Exchange Commission that provides information about a company’s financial performance, corporate governance, and other important details.
– Stock Rating: An assessment of a company’s stock made by a financial analyst. It indicates the analyst’s opinion on whether the stock is a buy, hold, or sell.
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Source: MarketBeat, Investopedia