Trillium Asset Management LLC boosted its stake in shares of Quanta Services Inc. (NYSE:PWR) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 637,387 shares of the company’s stock after buying an additional 16,377 shares during the period. Trillium Asset Management LLC’s holdings in Quanta Services were worth $14,736,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Kovitz Investment Group Partners LLC purchased a new position in shares of Quanta Services during the first quarter valued at approximately $99,285,000. Geode Capital Management LLC boosted its position in shares of Quanta Services by 5.7% in the first quarter. Geode Capital Management LLC now owns 1,787,721 shares of the company’s stock valued at $40,269,000 after buying an additional 97,062 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Quanta Services by 481.7% in the first quarter. JPMorgan Chase & Co. now owns 8,497,996 shares of the company’s stock valued at $191,716,000 after buying an additional 10,724,375 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of Quanta Services by 18.0% in the first quarter. CIBC World Markets Inc. now owns 14,466 shares of the company’s stock valued at $326,000 after buying an additional 2,211 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $31,259,000. 87.80% of the stock is owned by institutional investors.
Quanta Services Inc. (NYSE:PWR) traded up 0.07% during midday trading on Tuesday, reaching $27.90. 2,350,770 shares of the company were exchanged. The company has a 50-day moving average of $26.01 and a 200 day moving average of $24.21. The firm has a market capitalization of $4.21 billion, a PE ratio of 18.85 and a beta of 0.69. Quanta Services Inc. has a 52 week low of $16.77 and a 52 week high of $28.50.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The firm earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Quanta Services had a return on equity of 4.68% and a net margin of 3.38%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Equities analysts predict that Quanta Services Inc. will post $1.55 earnings per share for the current year.
Several equities analysts recently commented on PWR shares. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $28.00 to $32.50 and gave the company a “buy” rating in a research note on Friday, September 23rd. Citigroup Inc. dropped their target price on shares of Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 5th. Zacks Investment Research lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Credit Suisse Group AG reiterated a “buy” rating and set a $26.00 target price on shares of Quanta Services in a research report on Monday, August 8th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Quanta Services in a research report on Saturday, August 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $26.65.
In related news, EVP Randall C. Wisenbaker sold 5,121 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were 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 directly owns 40,193 shares of the company’s stock, valued at approximately $1,059,487.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate 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.
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services Inc. (NYSE:PWR).
Receive News & Ratings for Quanta Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.