Tiverton Asset Management LLC Reduces Holdings in Quanta Services Inc (NYSE:PWR)

Tiverton Asset Management LLC decreased its position in shares of Quanta Services Inc (NYSE:PWR) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,763 shares of the construction company’s stock after selling 1,022 shares during the period. Tiverton Asset Management LLC’s holdings in Quanta Services were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Quanta Services by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock worth $62,379,000 after acquiring an additional 105,481 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Quanta Services during the first quarter worth $2,108,000. Comerica Bank lifted its position in shares of Quanta Services by 0.7% during the first quarter. Comerica Bank now owns 132,151 shares of the construction company’s stock worth $5,196,000 after purchasing an additional 952 shares during the last quarter. Stephens Inc. AR bought a new stake in shares of Quanta Services during the first quarter worth $299,000. Finally, Toronto Dominion Bank boosted its stake in shares of Quanta Services by 8.0% during the first quarter. Toronto Dominion Bank now owns 71,525 shares of the construction company’s stock valued at $2,699,000 after purchasing an additional 5,276 shares during the period. Institutional investors and hedge funds own 85.93% of the company’s stock.

PWR traded down $0.02 on Wednesday, hitting $38.25. The company had a trading volume of 90,569 shares, compared to its average volume of 1,120,505. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 15.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.93 and a current ratio of 1.97. The stock has a fifty day moving average price of $34.44 and a 200-day moving average price of $36.83. 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 quarterly earnings results on Thursday, August 1st. The construction company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.45). Quanta Services had a net margin of 2.80% and a return on equity of 11.41%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Quanta Services Inc will post 2.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, September 30th. Quanta Services’s payout ratio is presently 6.32%.

Several research analysts recently commented on PWR shares. TheStreet downgraded shares of Quanta Services from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Stephens set a $42.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, August 16th. Vertical Research assumed coverage on shares of Quanta Services in a research note on Friday, August 23rd. They issued a “buy” rating and a $41.00 target price on the stock. Citigroup upped their target price on shares of Quanta Services from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their target price on shares of Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Quanta Services currently has an average rating of “Hold” and an average target price of $43.29.

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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