First Interstate Bank Reduces Stock Position in Quanta Services Inc (NYSE:PWR)

First Interstate Bank lessened its stake in shares of Quanta Services Inc (NYSE:PWR) by 22.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,725 shares of the construction company’s stock after selling 14,735 shares during the quarter. First Interstate Bank’s holdings in Quanta Services were worth $1,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PWR. Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter valued at about $67,213,000. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Quanta Services by 9,426.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 924,060 shares of the construction company’s stock worth $34,874,000 after buying an additional 914,360 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Quanta Services by 30.4% in the first quarter. Neuberger Berman Group LLC now owns 1,676,383 shares of the construction company’s stock worth $63,267,000 after buying an additional 390,856 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Quanta Services by 45.7% in the first quarter. Wells Fargo & Company MN now owns 871,352 shares of the construction company’s stock worth $32,884,000 after buying an additional 273,427 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Quanta Services by 699.8% in the first quarter. LSV Asset Management now owns 301,497 shares of the construction company’s stock worth $11,378,000 after buying an additional 263,800 shares during the last quarter. 89.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. ValuEngine downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Quanta Services presently has a consensus rating of “Hold” and an average target price of $43.00.

Shares of PWR traded up $0.47 on Monday, reaching $33.64. The company’s stock had a trading volume of 12,543 shares, compared to its average volume of 1,578,887. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.97 and a quick ratio of 1.93. The stock has a market capitalization of $4.62 billion, a P/E ratio of 13.36 and a beta of 1.17. The stock’s 50 day simple moving average is $36.63 and its two-hundred day simple moving average is $37.02. Quanta Services Inc has a 12-month low of $27.90 and a 12-month high of $41.00.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 1st. The construction company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.45). Quanta Services had a return on equity of 11.41% and a net margin of 2.80%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the business posted $0.59 EPS. Quanta Services’s revenue was up 6.9% on a year-over-year basis. Analysts expect that Quanta Services Inc will post 2.9 earnings per share for the current year.

Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

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

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