Trade Report: Today, Pillar Pacific Capital Management LLC Cuts Stake in Quanta Services Inc. (PWR)

Today, Pillar Pacific Capital Management LLC Cuts Stake in Quanta Services Inc. (PWR)

Pillar Pacific Capital Management LLC cut its position in Quanta Services Inc. (NYSE:PWR) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 13,550 shares of the company’s stock after selling 90 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Quanta Services were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PWR. AJO LP boosted its position in Quanta Services by 680.9% in the second quarter. AJO LP now owns 4,663,530 shares of the company’s stock worth $107,821,000 after buying an additional 4,066,356 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Quanta Services by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,315,026 shares of the company’s stock worth $99,754,000 after buying an additional 317,847 shares in the last quarter. Jennison Associates LLC boosted its position in Quanta Services by 1.8% in the second quarter. Jennison Associates LLC now owns 3,964,540 shares of the company’s stock worth $91,660,000 after buying an additional 68,412 shares in the last quarter. Bank of Montreal Can boosted its position in Quanta Services by 125.0% in the third quarter. Bank of Montreal Can now owns 3,779,803 shares of the company’s stock worth $105,797,000 after buying an additional 2,100,263 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Quanta Services by 12.7% in the second quarter. Alliancebernstein L.P. now owns 3,508,508 shares of the company’s stock worth $81,117,000 after buying an additional 395,135 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Shares of Quanta Services Inc. (NYSE:PWR) traded down 1.55% on Monday, reaching $32.37. 865,284 shares of the company’s stock were exchanged. The company’s 50 day moving average is $29.60 and its 200-day moving average is $26.00. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 48.68 and a beta of 0.60. Quanta Services Inc. has a one year low of $16.77 and a one year high of $33.13.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 3rd. The company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Quanta Services had a net margin of 1.42% and a return on equity of 5.53%. The firm earned $2.04 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the firm posted $0.30 earnings per share. Quanta Services’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Quanta Services Inc. will post $1.54 EPS for the current year.

PWR has been the subject of a number of research reports. Avondale Partners cut shares of Quanta Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 18th. Citigroup Inc. lowered their price objective on shares of Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $28.00 to $32.50 and gave the stock a “buy” rating in a report on Friday, September 23rd. Zacks Investment Research lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 8th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $26.00 price objective on shares of Quanta Services in a report on Monday, August 8th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Quanta Services has an average rating of “Buy” and a consensus target price of $28.50.

Quanta Services Company Profile

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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