Hsbc Holdings PLC increased its stake in Quanta Services Inc (NYSE:PWR) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,931 shares of the construction company’s stock after acquiring an additional 1,876 shares during the period. Hsbc Holdings PLC owned approximately 0.11% of Quanta Services worth $5,339,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Greenhaven Associates Inc. boosted its holdings in shares of Quanta Services by 2.6% in the third quarter. Greenhaven Associates Inc. now owns 2,578,300 shares of the construction company’s stock valued at $86,064,000 after acquiring an additional 64,200 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Quanta Services by 4.1% in the third quarter. Alliancebernstein L.P. now owns 2,429,644 shares of the construction company’s stock valued at $81,102,000 after acquiring an additional 95,966 shares in the last quarter. Bank of America Corp DE lifted its stake in Quanta Services by 15.1% during the second quarter. Bank of America Corp DE now owns 1,838,389 shares of the construction company’s stock valued at $61,402,000 after purchasing an additional 240,783 shares during the last quarter. Hexavest Inc. lifted its stake in Quanta Services by 91.0% during the third quarter. Hexavest Inc. now owns 1,721,605 shares of the construction company’s stock valued at $57,467,000 after purchasing an additional 820,397 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Quanta Services by 723.0% during the second quarter. Millennium Management LLC now owns 1,200,526 shares of the construction company’s stock valued at $40,098,000 after purchasing an additional 1,054,653 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.

PWR stock opened at $31.33 on Friday. Quanta Services Inc has a 12 month low of $30.25 and a 12 month high of $40.10. The company has a market cap of $4.89 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.67 and a beta of 0.88. The company has a quick ratio of 1.81, a current ratio of 1.86 and a debt-to-equity ratio of 0.25.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, November 1st. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). Quanta Services had a net margin of 3.32% and a return on equity of 8.57%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts predict that Quanta Services Inc will post 2.51 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 16th. Investors of record on Wednesday, January 2nd will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.51%.

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

Several research firms recently commented on PWR. Zacks Investment Research raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Robert W. Baird cut their target price on shares of Quanta Services from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. ValuEngine raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Citigroup cut their target price on shares of Quanta Services from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, Cfra reissued a “buy” rating and set a $40.00 target price on shares of Quanta Services in a research note on Thursday, September 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Quanta Services presently has an average rating of “Buy” and a consensus target price of $44.80.

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Quanta Services Profile

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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