Virginia Retirement Systems ET AL Has $1.74 Million Position in Quanta Services, Inc. (PWR)

Virginia Retirement Systems ET AL reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 19.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,600 shares of the construction company’s stock after selling 11,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in Quanta Services were worth $1,741,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in Quanta Services by 1.8% during the 3rd quarter. Legal & General Group Plc now owns 213,708 shares of the construction company’s stock valued at $7,988,000 after purchasing an additional 3,716 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Quanta Services by 55.8% during the 3rd quarter. Nordea Investment Management AB now owns 249,975 shares of the construction company’s stock valued at $9,342,000 after purchasing an additional 89,534 shares during the last quarter. ING Groep NV lifted its holdings in Quanta Services by 72.2% during the 3rd quarter. ING Groep NV now owns 13,066 shares of the construction company’s stock valued at $488,000 after purchasing an additional 5,479 shares during the last quarter. BDO Wealth Advisors LLC lifted its holdings in Quanta Services by 31.2% during the 3rd quarter. BDO Wealth Advisors LLC now owns 9,150 shares of the construction company’s stock valued at $342,000 after purchasing an additional 2,175 shares during the last quarter. Finally, First Interstate Bank lifted its holdings in Quanta Services by 3,913.3% during the 3rd quarter. First Interstate Bank now owns 58,995 shares of the construction company’s stock valued at $2,205,000 after purchasing an additional 57,525 shares during the last quarter. 85.97% of the stock is owned by hedge funds and other institutional investors.

Shares of Quanta Services, Inc. (NYSE PWR) traded down $0.38 during midday trading on Wednesday, hitting $38.42. 1,796,800 shares of the company’s stock were exchanged, compared to its average volume of 1,567,091. Quanta Services, Inc. has a one year low of $30.23 and a one year high of $39.20. The company has a market capitalization of $6,003.17, a P/E ratio of 20.31, a PEG ratio of 2.74 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.80 and a current ratio of 1.85.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. research analysts expect that Quanta Services, Inc. will post 1.77 earnings per share for the current year.

Several equities analysts recently issued reports on PWR shares. BidaskClub raised shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. FBR & Co raised shares of Quanta Services to an “outperform” rating and boosted their target price for the stock from $40.00 to $45.00 in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Citigroup raised shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, August 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $44.64.

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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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