State of New Jersey Common Pension Fund D maintained its stake in Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the construction company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Quanta Services were worth $3,292,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after buying an additional 840 shares during the period. CIBC Asset Management Inc increased its stake in Quanta Services by 0.4% in the second quarter. CIBC Asset Management Inc now owns 13,120 shares of the construction company’s stock worth $432,000 after buying an additional 53 shares during the period. Rothschild Asset Management Inc. increased its stake in Quanta Services by 22.9% in the second quarter. Rothschild Asset Management Inc. now owns 1,252,249 shares of the construction company’s stock worth $41,225,000 after buying an additional 233,008 shares during the period. Pillar Pacific Capital Management LLC increased its stake in Quanta Services by 19.3% in the second quarter. Pillar Pacific Capital Management LLC now owns 82,310 shares of the construction company’s stock worth $2,710,000 after buying an additional 13,295 shares during the period. Finally, Sequent Asset Management LLC increased its stake in Quanta Services by 3.3% in the second quarter. Sequent Asset Management LLC now owns 17,130 shares of the construction company’s stock worth $564,000 after buying an additional 540 shares during the period. 89.02% of the stock is owned by institutional investors and hedge funds.

Quanta Services, Inc. (NYSE PWR) opened at 35.33 on Wednesday. Quanta Services, Inc. has a 52 week low of $24.49 and a 52 week high of $38.82. The stock’s 50 day moving average is $34.03 and its 200 day moving average is $34.71. The stock has a market cap of $5.48 billion, a PE ratio of 20.09 and a beta of 0.84.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.03. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The firm’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. Analysts predict that Quanta Services, Inc. will post $2.03 EPS for the current year.

Quanta Services announced that its board has authorized a share buyback program on Thursday, May 25th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 9th. FBR & Co raised shares of Quanta Services to an “outperform” rating and lifted their target price for the stock from $40.00 to $45.00 in a research report on Wednesday, August 9th. BidaskClub raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group reaffirmed a “buy” rating and issued a $47.00 target price on shares of Quanta Services in a research report on Friday, August 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $41.11.

In other news, Director John Michal Conaway sold 4,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $35.79, for a total value of $143,160.00. Following the sale, the director now owns 17,152 shares in the company, valued at $613,870.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

About Quanta Services

Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.

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

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