Rhumbline Advisers cut its position in Quanta Services Inc (NYSE:PWR) by 9.6% in the first quarter, HoldingsChannel reports. The firm owned 221,000 shares of the construction company’s stock after selling 23,596 shares during the period. Rhumbline Advisers’ holdings in Quanta Services were worth $8,341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Endurance Wealth Management Inc. increased its holdings in shares of Quanta Services by 1.9% during the first quarter. Endurance Wealth Management Inc. now owns 144,298 shares of the construction company’s stock valued at $5,446,000 after acquiring an additional 2,676 shares in the last quarter. HL Financial Services LLC increased its holdings in shares of Quanta Services by 83.3% during the first quarter. HL Financial Services LLC now owns 242,638 shares of the construction company’s stock valued at $9,157,000 after acquiring an additional 110,235 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Quanta Services by 100.0% during the first quarter. Moors & Cabot Inc. now owns 29,650 shares of the construction company’s stock valued at $1,122,000 after acquiring an additional 14,825 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Quanta Services during the first quarter valued at about $1,887,000. Finally, First National Bank of Omaha increased its holdings in shares of Quanta Services by 6.1% during the first quarter. First National Bank of Omaha now owns 146,556 shares of the construction company’s stock valued at $5,531,000 after acquiring an additional 8,386 shares in the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Shares of NYSE:PWR opened at $35.32 on Wednesday. Quanta Services Inc has a twelve month low of $27.90 and a twelve month high of $41.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.95 and a current ratio of 2.00. The company has a market capitalization of $4.99 billion, a P/E ratio of 13.96 and a beta of 1.07.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.13. Quanta Services had a net margin of 3.25% and a return on equity of 12.71%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company earned $0.40 EPS. Quanta Services’s quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Quanta Services Inc will post 3.34 earnings per share for the current year.

In related news, EVP Donald Wayne sold 1,295 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.09, for a total value of $46,736.55. Following the transaction, the executive vice president now owns 30,054 shares in the company, valued at approximately $1,084,648.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.63, for a total transaction of $146,520.00. Following the completion of the transaction, the director now owns 8,953 shares in the company, valued at approximately $327,948.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,295 shares of company stock worth $4,193,257. 1.20% of the stock is owned by corporate insiders.

Several research firms have recently issued reports on PWR. DA Davidson downgraded shares of Quanta Services from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Citigroup set a $47.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 price objective on the stock in a report on Monday, February 25th. B. Riley restated a “buy” rating and set a $47.00 price objective (down previously from $56.00) on shares of Quanta Services in a report on Monday, March 11th. Finally, ValuEngine upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.80.

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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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