45,330 Shares in Quanta Services, Inc. (PWR) Acquired by Blue Sky Asset Management LLC

Blue Sky Asset Management LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 45,330 shares of the construction company’s stock, valued at approximately $1,492,000. Quanta Services comprises about 0.8% of Blue Sky Asset Management LLC’s holdings, making the stock its 19th largest position.

Several other large investors also recently bought and sold shares of PWR. Stephens Inc. AR boosted its stake in Quanta Services by 0.5% in the first quarter. Stephens Inc. AR now owns 5,980 shares of the construction company’s stock valued at $222,000 after buying an additional 31 shares in the last quarter. CIBC Asset Management Inc boosted 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 valued at $432,000 after buying an additional 53 shares in the last quarter. Intrust Bank NA boosted its stake in Quanta Services by 1.4% in the first quarter. Intrust Bank NA now owns 6,293 shares of the construction company’s stock valued at $234,000 after buying an additional 86 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Quanta Services by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 31,071 shares of the construction company’s stock valued at $1,023,000 after buying an additional 87 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in Quanta Services by 0.7% in the first quarter. New Mexico Educational Retirement Board now owns 15,382 shares of the construction company’s stock valued at $571,000 after buying an additional 100 shares in the last quarter. 89.02% of the stock is owned by hedge funds and other institutional investors.

Quanta Services, Inc. (NYSE:PWR) traded up 0.62% on Friday, hitting $34.04. The stock had a trading volume of 998,922 shares. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 19.35 and a beta of 0.84. Quanta Services, Inc. has a one year low of $24.49 and a one year high of $38.82. The company’s 50-day moving average price is $34.19 and its 200 day moving average price is $34.68.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. Analysts expect that Quanta Services, Inc. will post $2.03 earnings per share for the current year.

Quanta Services declared that its board has authorized a share repurchase plan on Thursday, May 25th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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Several brokerages recently weighed in on PWR. BidaskClub lowered Quanta Services from a “hold” rating to a “sell” rating in a research report on Friday. Citigroup Inc. upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday. Zacks Investment Research lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 9th. FBR & Co upgraded Quanta Services to an “outperform” rating and increased their price objective for the stock from $40.00 to $45.00 in a research report on Wednesday, August 9th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $47.00 price objective on shares of Quanta Services in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Quanta Services has a consensus rating of “Buy” and a consensus target price of $41.44.

In related news, Director John Michal Conaway sold 4,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $35.79, for a total transaction of $143,160.00. Following the completion of the sale, the director now directly owns 17,152 shares of the company’s stock, valued at approximately $613,870.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently 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.

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

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