Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Quanta Services Inc (NYSE:PWR) by 50.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,652 shares of the construction company’s stock after buying an additional 8,239 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Quanta Services were worth $782,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in Quanta Services by 9.5% in the first quarter. BlackRock Inc. now owns 13,817,414 shares of the construction company’s stock valued at $438,426,000 after buying an additional 1,201,086 shares during the period. State Street Corp raised its position in shares of Quanta Services by 2.7% during the fourth quarter. State Street Corp now owns 4,686,679 shares of the construction company’s stock worth $191,028,000 after purchasing an additional 122,572 shares during the period. Bank of New York Mellon Corp raised its position in shares of Quanta Services by 4.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,160,603 shares of the construction company’s stock worth $169,379,000 after purchasing an additional 160,464 shares during the period. Lyrical Asset Management LP raised its position in shares of Quanta Services by 1.0% during the fourth quarter. Lyrical Asset Management LP now owns 4,040,594 shares of the construction company’s stock worth $164,493,000 after purchasing an additional 41,038 shares during the period. Finally, Frontier Capital Management Co. LLC raised its position in shares of Quanta Services by 21.2% during the first quarter. Frontier Capital Management Co. LLC now owns 3,155,183 shares of the construction company’s stock worth $100,114,000 after purchasing an additional 552,598 shares during the period. 96.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on PWR shares. Citigroup lowered their target price on Quanta Services from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. KeyCorp upped their target price on Quanta Services from $38.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. B. Riley lowered their target price on Quanta Services from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Credit Suisse Group lowered their target price on Quanta Services from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a research report on Monday, May 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Quanta Services currently has a consensus rating of “Buy” and an average target price of $44.50.

Shares of Quanta Services stock opened at $34.25 on Friday. The stock has a fifty day simple moving average of $33.25 and a 200 day simple moving average of $37.64. Quanta Services Inc has a 12-month low of $23.77 and a 12-month high of $44.09. The company has a market capitalization of $4.66 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.82 and a beta of 1.15. The company has a current ratio of 1.78, a quick ratio of 1.75 and a debt-to-equity ratio of 0.47.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Quanta Services had a return on equity of 9.72% and a net margin of 2.65%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Quanta Services’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Quanta Services Inc will post 2.86 EPS for the current year.

In other Quanta Services news, EVP Donald Wayne sold 5,345 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $39.38, for a total value of $210,486.10. Following the completion of the transaction, the executive vice president now owns 69,592 shares in the company, valued at approximately $2,740,532.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Quanta Services 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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