Amundi Pioneer Asset Management Inc. Takes Position in Quanta Services Inc (PWR)

Amundi Pioneer Asset Management Inc. acquired a new stake in Quanta Services Inc (NYSE:PWR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 62,924 shares of the construction company’s stock, valued at approximately $2,460,000.

Several other hedge funds have also added to or reduced their stakes in PWR. Commonwealth Equity Services Inc boosted its holdings in shares of Quanta Services by 178.0% in the 3rd quarter. Commonwealth Equity Services Inc now owns 17,400 shares of the construction company’s stock valued at $650,000 after acquiring an additional 11,141 shares during the last quarter. ING Groep NV boosted its holdings in shares of Quanta Services by 72.2% in the 3rd quarter. ING Groep NV now owns 13,066 shares of the construction company’s stock valued at $488,000 after acquiring an additional 5,479 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Quanta Services by 55.8% in the 3rd quarter. Nordea Investment Management AB now owns 249,975 shares of the construction company’s stock valued at $9,342,000 after acquiring an additional 89,534 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Quanta Services by 1.8% in the 3rd quarter. Legal & General Group Plc now owns 213,708 shares of the construction company’s stock valued at $7,988,000 after acquiring an additional 3,716 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Quanta Services by 128.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 356,196 shares of the construction company’s stock valued at $13,365,000 after acquiring an additional 200,209 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Quanta Services Inc (NYSE PWR) opened at $33.21 on Monday. Quanta Services Inc has a twelve month low of $30.23 and a twelve month high of $40.10. The stock has a market cap of $5,105.87, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.72 and a beta of 0.86. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 0.18.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Quanta Services had a net margin of 3.33% and a return on equity of 7.75%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. analysts anticipate that Quanta Services Inc will post 2.41 EPS for the current fiscal year.

Several analysts have recently commented on the stock. Citigroup upped their price objective on shares of Quanta Services from $47.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Friday, February 9th. Stephens reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Quanta Services in a report on Wednesday, January 31st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $42.00 price objective (down from $46.00) on shares of Quanta Services in a report on Friday, February 23rd. Finally, KeyCorp reissued a “buy” rating and set a $46.00 price target on shares of Quanta Services in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $45.15.

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About Quanta Services

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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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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