Glen Harbor Capital Management LLC cut its holdings in shares of Quanta Services Inc (NYSE:PWR) by 44.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 15,512 shares of the construction company’s stock after selling 12,572 shares during the period. Glen Harbor Capital Management LLC’s holdings in Quanta Services were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Alpine Woods Capital Investors LLC lifted its holdings in Quanta Services by 15.0% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,500 shares of the construction company’s stock worth $684,000 after buying an additional 1,500 shares in the last quarter. Peddock Capital Advisors LLC lifted its holdings in Quanta Services by 7.8% during the 2nd quarter. Peddock Capital Advisors LLC now owns 21,388 shares of the construction company’s stock worth $714,000 after buying an additional 1,542 shares in the last quarter. Maple Capital Management Inc. lifted its holdings in Quanta Services by 25.6% during the 1st quarter. Maple Capital Management Inc. now owns 7,612 shares of the construction company’s stock worth $261,000 after buying an additional 1,550 shares in the last quarter. Norinchukin Bank The lifted its holdings in Quanta Services by 13.9% during the 1st quarter. Norinchukin Bank The now owns 14,089 shares of the construction company’s stock worth $484,000 after buying an additional 1,719 shares in the last quarter. Finally, Ramsey Quantitative Systems lifted its holdings in Quanta Services by 20.2% during the 2nd quarter. Ramsey Quantitative Systems now owns 10,375 shares of the construction company’s stock worth $347,000 after buying an additional 1,741 shares in the last quarter. Institutional investors own 85.13% of the company’s stock.

Shares of NYSE:PWR opened at $34.56 on Friday. Quanta Services Inc has a 52 week low of $32.19 and a 52 week high of $40.10. The company has a current ratio of 1.82, a quick ratio of 1.77 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.76 and a beta of 0.89.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Quanta Services had a net margin of 3.10% and a return on equity of 7.72%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. research analysts forecast that Quanta Services Inc will post 2.5 earnings per share for the current year.

Quanta Services announced that its Board of Directors has approved a share buyback plan on Tuesday, September 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

PWR has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Cfra reiterated a “buy” rating and set a $40.00 target price on shares of Quanta Services in a report on Thursday, September 6th. ValuEngine lowered shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Finally, B. Riley increased their target price on shares of Quanta Services from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $45.73.

About Quanta Services

Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.

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

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