Public Sector Pension investment Board Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Public Sector Pension investment Board lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 51.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,526 shares of the construction company’s stock after selling 17,200 shares during the quarter. Public Sector Pension investment Board’s holdings in Quanta Services were worth $544,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Quanta Services in the 1st quarter valued at about $134,000. Bessemer Group Inc. raised its holdings in shares of Quanta Services by 22.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after purchasing an additional 840 shares in the last quarter. Commonwealth Bank of Australia bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $164,000. Thrivent Financial For Lutherans bought a new stake in shares of Quanta Services in the 1st quarter valued at about $206,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Quanta Services by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after purchasing an additional 708 shares in the last quarter. Institutional investors and hedge funds own 88.48% of the company’s stock.

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PWR has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Credit Suisse Group reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Quanta Services in a research report on Wednesday, July 26th. Robert W. Baird downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $38.00 in a research report on Wednesday, July 26th. Johnson Rice raised shares of Quanta Services from an “accumulate” rating to a “buy” rating and lifted their price objective for the stock from $41.00 to $43.00 in a research report on Friday, August 4th. Finally, BidaskClub raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $42.40.

Shares of Quanta Services, Inc. (NYSE:PWR) opened at 37.45 on Wednesday. The firm’s 50-day moving average is $36.70 and its 200 day moving average is $34.46. The stock has a market cap of $5.81 billion, a P/E ratio of 21.29 and a beta of 0.83. Quanta Services, Inc. has a 52-week low of $27.29 and a 52-week high of $38.82.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $0.18 EPS. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. Analysts forecast that Quanta Services, Inc. will post $2.03 earnings per share for the current fiscal year.

In other news, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the transaction, the director now directly owns 7,506 shares in the company, valued at $259,032.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total transaction of $316,350.00. Following the transaction, the executive vice president now owns 34,797 shares in the company, valued at $1,223,114.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,000 shares of company stock worth $597,550. Insiders own 0.70% of the company’s stock.

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.

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

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