Schwab Charles Investment Management Inc. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 735,777 shares of the construction company’s stock after purchasing an additional 26,585 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.50% of Quanta Services worth $24,222,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PWR. LS Investment Advisors LLC grew its position in Quanta Services by 83.1% during the 1st quarter. LS Investment Advisors LLC now owns 8,393 shares of the construction company’s stock worth $311,000 after purchasing an additional 3,810 shares during the last quarter. Swiss National Bank grew its position in Quanta Services by 0.4% during the 1st quarter. Swiss National Bank now owns 248,535 shares of the construction company’s stock worth $9,223,000 after purchasing an additional 1,000 shares during the last quarter. World Asset Management Inc grew its position in Quanta Services by 11.4% during the 1st quarter. World Asset Management Inc now owns 17,160 shares of the construction company’s stock worth $637,000 after purchasing an additional 1,752 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Quanta Services by 0.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 111,775 shares of the construction company’s stock worth $4,148,000 after purchasing an additional 945 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in Quanta Services during the 1st quarter worth $2,354,000. 88.52% of the stock is currently owned by institutional investors.

Shares of Quanta Services, Inc. (NYSE:PWR) opened at 36.30 on Friday. The stock has a market cap of $5.63 billion, a P/E ratio of 20.64 and a beta of 0.83. Quanta Services, Inc. has a one year low of $24.82 and a one year high of $38.82. The stock has a 50 day moving average of $35.31 and a 200 day moving average of $34.48.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. Equities analysts expect that Quanta Services, Inc. will post $2.03 EPS for the current fiscal year.

Quanta Services declared that its board has approved a stock repurchase program on Thursday, May 25th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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In other news, EVP Randall C. Wisenbaker sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total transaction of $316,350.00. Following the completion of the transaction, the executive vice president now owns 34,797 shares in the company, valued at $1,223,114.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Michal Conaway sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $35.79, for a total transaction of $143,160.00. Following the transaction, the director now owns 17,152 shares of the company’s stock, valued at approximately $613,870.08. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock valued at $597,550 in the last 90 days. Insiders own 0.70% of the company’s stock.

Several brokerages have issued reports on PWR. 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. Credit Suisse Group reissued a “buy” rating and set a $46.00 price objective on shares of Quanta Services in a research report on Wednesday, July 26th. Robert W. Baird downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $38.00 in a research report on Wednesday, July 26th. Johnson Rice raised shares of Quanta Services from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $43.00 in a research report on Friday, August 4th. Finally, BidaskClub raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $41.44.

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.

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

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