Peddock Capital Advisors LLC lifted its position in Quanta Services Inc (NYSE:PWR) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,252 shares of the construction company’s stock after purchasing an additional 447 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Quanta Services were worth $697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Geode Capital Management LLC boosted its stake in Quanta Services by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 2,074,785 shares of the construction company’s stock worth $62,379,000 after purchasing an additional 105,481 shares in the last quarter. Pennsylvania Trust Co bought a new position in Quanta Services in the 1st quarter worth about $1,499,000. Smith Graham & Co. Investment Advisors LP boosted its stake in Quanta Services by 1.0% in the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 185,560 shares of the construction company’s stock worth $7,003,000 after purchasing an additional 1,810 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Quanta Services in the 1st quarter worth about $1,672,000. Finally, Guinness Atkinson Asset Management Inc bought a new position in Quanta Services in the 1st quarter worth about $249,000. 89.51% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. ValuEngine cut shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Stephens set a $42.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Citigroup upped their target price on shares of Quanta Services from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $42.83.

PWR traded up $0.26 during midday trading on Thursday, hitting $33.69. 38,542 shares of the company traded hands, compared to its average volume of 1,638,293. The company has a quick ratio of 1.93, a current ratio of 1.97 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.77 billion, a PE ratio of 13.31 and a beta of 1.17. The company’s 50-day moving average is $36.13 and its 200 day moving average is $36.95. Quanta Services Inc has a 52 week low of $27.90 and a 52 week 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 business 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 earned $0.59 EPS. Quanta Services’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services Inc will post 2.9 earnings per share for the current fiscal year.

About Quanta Services

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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