Trillium Asset Management LLC Increases Position in Quanta Services Inc. (PWR)
Trillium Asset Management LLC increased its position in shares of Quanta Services Inc. (NYSE:PWR) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 owned approximately 0.42% of Quanta Services worth $14,736,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC bought a new position in shares of Quanta Services during the first quarter worth approximately $99,285,000. Geode Capital Management LLC raised 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 worth $40,269,000 after buying an additional 97,062 shares during the period. JPMorgan Chase & Co. raised 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 worth $191,716,000 after buying an additional 10,724,375 shares during the period. CIBC World Markets Inc. raised 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 worth $326,000 after buying an additional 2,211 shares during the period. Finally, Norges Bank bought a new position in shares of Quanta Services during the fourth quarter worth approximately $31,259,000. Institutional investors and hedge funds own 87.80% of the company’s stock.
Shares of Quanta Services Inc. (NYSE:PWR) traded up 0.07% during trading on Tuesday, reaching $27.90. 2,350,770 shares of the company traded hands. The stock has a market capitalization of $4.21 billion, a PE ratio of 18.85 and a beta of 0.69. The firm’s 50-day moving average is $26.01 and its 200-day moving average is $24.21. Quanta Services Inc. has a 12-month low of $16.77 and a 12-month high of $28.50.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.18. The business 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%. Quanta Services’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities analysts predict that Quanta Services Inc. will post $1.55 earnings per share for the current fiscal year.
PWR has been the subject of a number of recent research reports. 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 report on Friday, September 23rd. Citigroup Inc. cut their price objective on shares of Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Zacks Investment Research downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Credit Suisse Group AG reissued a “buy” rating and issued a $26.00 price objective on shares of Quanta Services in a report on Monday, August 8th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Quanta Services presently has an average rating of “Buy” and a consensus price target of $26.65.
In other news, EVP Randall C. Wisenbaker sold 5,121 shares of Quanta Services stock in a transaction dated 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 transaction, the executive vice president now owns 40,193 shares in the company, valued at $1,059,487.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.
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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