M&T Bank Corp Purchases 695 Shares of Quanta Services, Inc. (PWR)

M&T Bank Corp lifted its position in Quanta Services, Inc. (NYSE:PWR) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,806 shares of the construction company’s stock after buying an additional 695 shares during the quarter. M&T Bank Corp’s holdings in Quanta Services were worth $290,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealthfront Inc. bought a new stake in Quanta Services during the second quarter worth approximately $539,000. BP Capital Fund Advisors LLC bought a new stake in Quanta Services during the second quarter worth approximately $3,915,000. FMR LLC boosted its position in Quanta Services by 14.8% during the second quarter. FMR LLC now owns 446,644 shares of the construction company’s stock worth $14,703,000 after purchasing an additional 57,431 shares during the period. Vanguard Group Inc. boosted its position in Quanta Services by 3.6% during the second quarter. Vanguard Group Inc. now owns 14,732,602 shares of the construction company’s stock worth $484,998,000 after purchasing an additional 511,917 shares during the period. Finally, Penn Capital Management Co. Inc. boosted its position in Quanta Services by 543.6% during the second quarter. Penn Capital Management Co. Inc. now owns 53,244 shares of the construction company’s stock worth $1,779,000 after purchasing an additional 44,971 shares during the period. 88.53% of the stock is owned by institutional investors and hedge funds.

Shares of Quanta Services, Inc. (PWR) opened at 37.50 on Friday. The firm’s 50-day moving average price is $36.56 and its 200-day moving average price is $34.49. The company has a market cap of $5.82 billion, a PE ratio of 21.32 and a beta of 0.83. Quanta Services, Inc. has a 12 month low of $27.29 and a 12 month high of $38.82.

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

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PWR has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 target price on shares of Quanta Services in a research report on Thursday, September 7th. Credit Suisse Group reaffirmed a “buy” rating and set a $47.00 target price on shares of Quanta Services in a research report on Friday, August 4th. Johnson Rice raised Quanta Services from an “accumulate” rating to a “buy” rating and upped their target price for the stock from $41.00 to $43.00 in a research report on Friday, August 4th. FBR & Co raised Quanta Services to an “outperform” rating and upped their target price for the stock from $40.00 to $45.00 in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Quanta Services has an average rating of “Buy” and an average target price of $41.90.

In other news, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services 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 completion of the transaction, the executive vice president now directly owns 34,797 shares in the company, valued at approximately $1,223,114.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total value of $138,040.00. Following the transaction, the director now owns 7,506 shares of the company’s stock, valued at $259,032.06. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock valued at $597,550 over the last quarter. 0.70% of the stock is currently owned by corporate 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.

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

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