Hedeker Wealth Management Group Lowers stake in Quanta Services Inc (PWR)

Quanta Services Inc (PWR) : Hedeker Wealth Management Group reduced its stake in Quanta Services Inc by 8.55% during the most recent quarter end. The investment management company now holds a total of 210,441 shares of Quanta Services Inc which is valued at $4,808,577 after selling 19,669 shares in Quanta Services Inc , the firm said in a disclosure report filed with the SEC on May 10, 2016.Quanta Services Inc makes up approximately 4.53% of Hedeker Wealth Management Group’s portfolio.

Other Hedge Funds, Including , Mutual Of America Capital Management boosted its stake in PWR in the latest quarter, The investment management firm added 501 additional shares and now holds a total of 18,776 shares of Quanta Services Inc which is valued at $429,032. Quanta Services Inc makes up approx 0.01% of Mutual Of America Capital Management’s portfolio.Essex Investment Management Co reduced its stake in PWR by selling 1,126 shares or 1.47% in the most recent quarter. The Hedge Fund company now holds 75,346 shares of PWR which is valued at $1,721,656. Quanta Services Inc makes up approx 0.30% of Essex Investment Management Co’s portfolio.Jennison Associates reduced its stake in PWR by selling 308,089 shares or 7.33% in the most recent quarter. The Hedge Fund company now holds 3,896,128 shares of PWR which is valued at $92,065,505. Quanta Services Inc makes up approx 0.10% of Jennison Associates’s portfolio.Huntington National Bank boosted its stake in PWR in the latest quarter, The investment management firm added 5,473 additional shares and now holds a total of 8,501 shares of Quanta Services Inc which is valued at $201,644. Quanta Services Inc makes up approx 0.01% of Huntington National Bank’s portfolio. Calamos Wealth Management sold out all of its stake in PWR during the most recent quarter. The investment firm sold 24,481 shares of PWR which is valued $580,689.

Quanta Services Inc opened for trading at $22.96 and hit $23.365 on the upside on Monday, eventually ending the session at $23.2, with a gain of 1.53% or 0.35 points. The heightened volatility saw the trading volume jump to 23,77,611 shares. Company has a market cap of $3,345 M.

On the company’s financial health, Quanta Services Inc reported $0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.26. The company had revenue of $1713.70 million for the quarter, compared to analysts expectations of $1726.78 million. The company’s revenue was down -7.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Quanta Services Inc. Company shares were Reiterated by FBR Capital on May 6, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 25 from a previous price target of $23 .Company shares were Reiterated by Maxim Group on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $26 .

Quanta Services Inc. (Quanta) is a provider of specialty contracting services offering infrastructure solutions primarily to the electric power and natural gas and oil pipeline industries. The Company operates in two segments such as electric power infrastructure services and oil and gas infrastructure services. The Electric Power Infrastructure Services segment provides network solutions to the electric power industry. Its Electric Power Infrastructure Services segment includes various services such as design installation and maintenance of electric power transmission and distribution infrastructure and substation facilities among others. The Oil and Gas Infrastructure Services segment provides network solutions to customers of development and transportation of natural gas and oil. Its Oil and Gas Infrastructure Services segment include the design installation and maintenance of pipeline transmission distribution systems and gathering systems among others.

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