Ameriprise Financial Inc. reduced its stake in Quanta Services Inc. (NYSE:PWR) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 411,555 shares of the company’s stock after selling 14,101 shares during the period. Ameriprise Financial Inc. owned about 0.26% of Quanta Services worth $9,515,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its position in Quanta Services by 2,638.5% in the second quarter. Assetmark Inc. now owns 4,984 shares of the company’s stock valued at $116,000 after buying an additional 4,802 shares in the last quarter. Euclid Advisors LLC acquired a new position in Quanta Services during the first quarter valued at $138,000. BlueMountain Capital Management LLC acquired a new position in Quanta Services during the first quarter valued at $201,000. Invictus RG boosted its position in Quanta Services by 49.1% in the first quarter. Invictus RG now owns 12,711 shares of the company’s stock valued at $287,000 after buying an additional 4,183 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its position in Quanta Services by 3.1% in the second quarter. Ngam Advisors L.P. now owns 13,503 shares of the company’s stock valued at $312,000 after buying an additional 403 shares in the last quarter. 87.80% of the stock is currently owned by institutional investors and hedge funds.
Quanta Services Inc. (NYSE:PWR) traded down 0.804% during mid-day trading on Monday, hitting $27.765. The company had a trading volume of 1,082,288 shares. The firm’s 50 day moving average is $25.92 and its 200 day moving average is $24.14. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 18.760 and a beta of 0.69. Quanta Services Inc. has a 52 week low of $16.77 and a 52 week high of $28.14.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.18. Quanta Services had a net margin of 3.38% and a return on equity of 4.68%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.86 billion. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. On average, equities research analysts predict that Quanta Services Inc. will post $1.55 EPS for the current year.
Several research firms have weighed in on PWR. Deutsche Bank AG reissued a “buy” rating on shares of Quanta Services in a research report on Saturday, August 6th. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Stifel Nicolaus raised Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, August 5th. Credit Suisse Group AG reissued a “buy” rating and issued a $26.00 price objective on shares of Quanta Services in a research report on Monday, August 8th. Finally, Citigroup Inc. cut their price objective on Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.65.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 5,121 shares of Quanta Services stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $26.36, for a total value of $134,989.56. Following the completion of the sale, the executive vice president now owns 40,193 shares of the company’s stock, valued at approximately $1,059,487.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.
Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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