Contravisory Investment Management Inc. has increased its position in Quanta Services, Inc. by 2.0% in the second quarter, according to a recent report filed with the Securities and Exchange Commission. The institutional investor acquired an additional 98 shares, resulting in a total of 5,100 shares of Quanta Services. At the end of the second quarter, Contravisory Investment Management Inc.’s holdings in Quanta Services were valued at $1,002,000.
Several other hedge funds have also made changes to their holdings in Quanta Services. For example, Vanguard Group Inc. increased its stake in the construction company by 1.2% in the first quarter, acquiring an additional 182,092 shares. JPMorgan Chase & Co. increased its position in Quanta Services by 9.0% in the fourth quarter. FMR LLC increased its position by 19.7% in the first quarter. State Street Corp increased its position by 0.4% in the first quarter. Finally, Geode Capital Management LLC increased its holdings by 1.8% in the first quarter. Overall, institutional investors now own 87.86% of Quanta Services’ shares.
Quanta Services has been the subject of various research analyst reports. DA Davidson has raised its price target for Quanta Services’ shares from $170.00 to $190.00 and has given the shares a “neutral” rating. Robert W. Baird also reiterated an “overweight” rating and assigned a price target of $219.00. Credit Suisse Group increased its price target from $201.00 to $238.00 and gave Quanta Services an “overweight” rating. StockNews.com initiated coverage of Quanta Services with a “hold” rating. Citigroup raised its price target to $234.00 and gave the company a “buy” rating. The shares currently have an average rating of “moderate buy” and an average price target of $205.27.
Quanta Services’ shares were trading at $199.52 per share on Monday, with a trading volume of 174,399 shares. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 50.83, and a beta of 1.08. The shares have a 50-day moving average of $203.35 and a 200-day moving average of $183.22. Quanta Services reported earnings per share of $1.47 for the quarter, falling short of the consensus estimate of $1.53 by $0.06.
Quanta Services has declared a quarterly dividend of $0.08 per share, which will be paid on October 13 to shareholders of record as of October 2. The ex-dividend date is September 29, and the dividend yield is 0.16%. Insiders of the company, including EVP Donald Wayne, have sold shares of Quanta Services’ stock, with Wayne selling 5,000 shares at an average price of $210.92.
Quanta Services, Inc. provides infrastructure solutions for the electric power and gas utilities, renewable energy, communications, and pipeline and energy industries worldwide. Its Electric Power Infrastructure Solutions segment is engaged in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substations.
– Securities and Exchange Commission filing
– Quanta Services website