Oakbrook Investments LLC raised its holdings in Quanta Services Inc (NYSE:PWR) by 12.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,020 shares of the construction company’s stock after buying an additional 1,480 shares during the quarter. Oakbrook Investments LLC’s holdings in Quanta Services were worth $509,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PWR. Ameriprise Financial Inc. grew its position in shares of Quanta Services by 7.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 609,671 shares of the construction company’s stock worth $20,069,000 after buying an additional 39,646 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of Quanta Services by 3.7% in the 2nd quarter. Nationwide Fund Advisors now owns 238,521 shares of the construction company’s stock worth $7,852,000 after buying an additional 8,419 shares during the last quarter. BlackRock Inc. grew its position in shares of Quanta Services by 1.3% in the 2nd quarter. BlackRock Inc. now owns 8,465,126 shares of the construction company’s stock worth $278,671,000 after buying an additional 105,066 shares during the last quarter. Amalgamated Bank grew its position in shares of Quanta Services by 26.5% in the 2nd quarter. Amalgamated Bank now owns 29,339 shares of the construction company’s stock worth $966,000 after buying an additional 6,148 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Quanta Services in the 2nd quarter worth approximately $703,000. Hedge funds and other institutional investors own 86.02% of the company’s stock.
A number of brokerages have recently weighed in on PWR. Stifel Nicolaus reiterated a “buy” rating on shares of Quanta Services in a research report on Thursday, December 14th. Robert W. Baird reiterated a “hold” rating and issued a $39.00 price objective on shares of Quanta Services in a research report on Friday, October 6th. Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Citigroup set a $47.00 target price on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, ValuEngine cut Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $44.73.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. analysts expect that Quanta Services Inc will post 1.77 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece was published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.com-unik.info/2018/01/23/quanta-services-inc-pwr-stake-raised-by-oakbrook-investments-llc.html.
Quanta Services 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.
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services Inc (NYSE:PWR).
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.