Oaktree Capital Management LP Lowered Its Cit Group (CIT) Position by $11.79 Million; Castleark Management Position in Quanta Svcs (PWR) Has Lowered by $1.15 Million as Stock Value Declined

January 19, 2018 - By Adrian Mccoy

Castleark Management Llc decreased its stake in Quanta Svcs Inc (PWR) by 6.99% based on its latest 2017Q3 regulatory filing with the SEC. Castleark Management Llc sold 31,050 shares as the company’s stock declined 15.57% while stock markets rallied. The institutional investor held 413,450 shares of the capital goods company at the end of 2017Q3, valued at $15.45 million, down from 444,500 at the end of the previous reported quarter. Castleark Management Llc who had been investing in Quanta Svcs Inc for a number of months, seems to be less bullish one the $5.98 billion market cap company. The stock decreased 0.52% or $0.2 during the last trading session, reaching $38.53. About 1.19M shares traded. Quanta Services, Inc. (NYSE:PWR) has risen 39.30% since January 19, 2017 and is uptrending. It has outperformed by 22.60% the S&P500.

Howard Marks decreased its stake in Cit Group Inc (CIT) by 70.64% based on its latest 2017Q3 regulatory filing with the SEC. Oaktree Capital Management Lp sold 240,600 shares as the company’s stock rose 7.62% with the market. The hedge fund run by Howard Marks held 100,000 shares of the consumer services company at the end of 2017Q3, valued at $4.91M, down from 340,600 at the end of the previous reported quarter. Oaktree Capital Management Lp who had been investing in Cit Group Inc for a number of months, seems to be less bullish one the $6.79 billion market cap company. The stock decreased 1.22% or $0.64 during the last trading session, reaching $51.73. About 595,212 shares traded. CIT Group Inc. (NYSE:CIT) has risen 46.21% since January 19, 2017 and is uptrending. It has outperformed by 29.51% the S&P500.

Castleark Management Llc, which manages about $3.86 billion and $3.19 billion US Long portfolio, upped its stake in Eqt Midstream Partners Lp (NYSE:EQM) by 13,020 shares to 39,915 shares, valued at $2.99 million in 2017Q3, according to the filing. It also increased its holding in Smart Sand Inc by 241,584 shares in the quarter, for a total of 409,034 shares, and has risen its stake in Keane Group Inc.

Analysts await Quanta Services, Inc. (NYSE:PWR) to report earnings on February, 20. They expect $0.39 earnings per share, down 25.00% or $0.13 from last year’s $0.52 per share. PWR’s profit will be $60.53 million for 24.70 P/E if the $0.39 EPS becomes a reality. After $0.59 actual earnings per share reported by Quanta Services, Inc. for the previous quarter, Wall Street now forecasts -33.90% negative EPS growth.

Among 13 analysts covering Quanta Services Inc. (NYSE:PWR), 10 have Buy rating, 0 Sell and 3 Hold. Therefore 77% are positive. Quanta Services Inc. had 43 analyst reports since August 6, 2015 according to SRatingsIntel. Johnson Rice upgraded the stock to “Buy” rating in Friday, August 4 report. B. Riley & Co maintained Quanta Services, Inc. (NYSE:PWR) on Tuesday, November 7 with “Buy” rating. Citigroup upgraded the shares of PWR in report on Friday, August 18 to “Buy” rating. The firm has “Mkt Perform” rating given on Monday, November 9 by FBR Capital. The stock of Quanta Services, Inc. (NYSE:PWR) earned “Neutral” rating by Robert W. Baird on Friday, November 3. The company was maintained on Friday, May 6 by FBR Capital. The firm has “Buy” rating by FBR Capital given on Monday, November 6. FBR Capital maintained Quanta Services, Inc. (NYSE:PWR) rating on Monday, August 10. FBR Capital has “Outperform” rating and $29 target. KeyBanc Capital Markets maintained Quanta Services, Inc. (NYSE:PWR) on Monday, November 27 with “Buy” rating. The stock of Quanta Services, Inc. (NYSE:PWR) has “Neutral” rating given on Thursday, November 12 by Robert W. Baird.

Among 19 analysts covering CIT Group (NYSE:CIT), 8 have Buy rating, 1 Sell and 10 Hold. Therefore 42% are positive. CIT Group had 57 analyst reports since July 23, 2015 according to SRatingsIntel. JMP Securities maintained CIT Group Inc. (NYSE:CIT) rating on Thursday, July 13. JMP Securities has “Market Outperform” rating and $54 target. BTIG Research maintained CIT Group Inc. (NYSE:CIT) on Tuesday, July 25 with “Buy” rating. As per Friday, July 29, the company rating was maintained by Barclays Capital. Oppenheimer maintained the stock with “Outperform” rating in Tuesday, January 5 report. The firm has “Neutral” rating by Goldman Sachs given on Friday, August 14. Keefe Bruyette & Woods maintained CIT Group Inc. (NYSE:CIT) rating on Tuesday, December 12. Keefe Bruyette & Woods has “Hold” rating and $47.0 target. The rating was maintained by BMO Capital Markets with “Sell” on Thursday, June 15. The company was maintained on Thursday, June 29 by Credit Suisse. BMO Capital Markets maintained the shares of CIT in report on Wednesday, July 26 with “Underperform” rating. The firm earned “Neutral” rating on Wednesday, February 3 by Citigroup.

Since August 11, 2017, it had 0 buys, and 2 sales for $162,688 activity. 1,460 CIT Group Inc. (NYSE:CIT) shares with value of $65,700 were sold by Solk Steve.

Investors sentiment increased to 1.01 in Q3 2017. Its up 0.67, from 0.34 in 2017Q2. It increased, as 23 investors sold CIT shares while 91 reduced holdings. 43 funds opened positions while 72 raised stakes. 134.52 million shares or 7.51% less from 145.43 million shares in 2017Q2 were reported. Bridgeway Cap Inc owns 1.04 million shares. Deutsche Savings Bank Ag stated it has 235,643 shares or 0.01% of all its holdings. Fny Managed Accounts Ltd Company has 564 shares for 0.04% of their portfolio. Sumitomo Mitsui Asset Mgmt Limited reported 10,574 shares. 11,884 were reported by Sg Americas Ltd Llc. The Illinois-based Lsv Asset Management has invested 0.29% in CIT Group Inc. (NYSE:CIT). Prudential Fin reported 0% of its portfolio in CIT Group Inc. (NYSE:CIT). Gabelli Funds Limited Company holds 0% of its portfolio in CIT Group Inc. (NYSE:CIT) for 12,800 shares. Alabama-based Andra Ap has invested 0.05% in CIT Group Inc. (NYSE:CIT). Barclays Public Lc holds 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT) for 205,497 shares. Colony Grp reported 0.01% in CIT Group Inc. (NYSE:CIT). Wedge Cap Management L Limited Partnership Nc stated it has 1.53M shares or 0.7% of all its holdings. Cibc Asset reported 10,823 shares. Glenmede Tru Na stated it has 0% in CIT Group Inc. (NYSE:CIT). Proshare Advsr Ltd Liability Com owns 18,876 shares for 0.01% of their portfolio.

Oaktree Capital Management Lp, which manages about $6.70 billion US Long portfolio, upped its stake in Palo Alto Networks Inc (Prn) by 10.00 million shares to 21.00M shares, valued at $28.99M in 2017Q3, according to the filing. It also increased its holding in Magnachip Semiconductor Corp (NYSE:MX) by 725,000 shares in the quarter, for a total of 2.34 million shares, and has risen its stake in Vale Sa (NYSE:VALE).

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