New York State Common Retirement Fund decreased its stake in Quanta Services Inc (NYSE:PWR) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,983 shares of the construction company’s stock after selling 58,632 shares during the period. New York State Common Retirement Fund owned 0.46% of Quanta Services worth $26,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE grew its holdings in Quanta Services by 4.2% during the second quarter. US Bancorp DE now owns 7,641 shares of the construction company’s stock worth $252,000 after purchasing an additional 307 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Quanta Services by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 31,071 shares of the construction company’s stock worth $1,023,000 after purchasing an additional 87 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Quanta Services by 40.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 24,940 shares of the construction company’s stock worth $821,000 after purchasing an additional 7,130 shares during the period. CIBC Asset Management Inc grew its holdings in Quanta Services by 0.4% during the second quarter. CIBC Asset Management Inc now owns 13,120 shares of the construction company’s stock worth $432,000 after purchasing an additional 53 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Quanta Services by 22.2% during the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after purchasing an additional 840 shares during the period. Institutional investors own 86.11% of the company’s stock.

Shares of Quanta Services Inc (NYSE:PWR) traded up $0.95 during mid-day trading on Monday, reaching $39.40. 1,364,500 shares of the company’s stock traded hands, compared to its average volume of 1,562,984. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. The firm has a market capitalization of $6,096.00, a P/E ratio of 20.63, a PEG ratio of 2.78 and a beta of 0.86. Quanta Services Inc has a 1 year low of $30.23 and a 1 year high of $39.42.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 business earned $0.55 earnings per share. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. research analysts forecast that Quanta Services Inc will post 1.77 earnings per share for the current fiscal year.

A number of equities analysts recently commented on PWR shares. Citigroup upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, August 18th. BidaskClub cut Quanta Services from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Stifel Nicolaus restated a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a research report on Thursday, September 7th. Robert W. Baird restated a “hold” rating and set a $39.00 price objective on shares of Quanta Services in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Quanta Services from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. Quanta Services currently has a consensus rating of “Buy” and a consensus 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.

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

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