Trimtabs Asset Management adds Quanta Services Inc (PWR) to its portfolio

Quanta Services Inc (PWR) : Trimtabs Asset Management added new position in Quanta Services Inc during the most recent quarter end. The investment management firm now holds 65,135 shares of Quanta Services Inc which is valued at $1,655,732 , the company said in a statement filed on Aug 1, 2016 with the SEC.Quanta Services Inc makes up approximately 1.03% of Trimtabs Asset Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in PWR by selling 23,856 shares or 7.12% in the most recent quarter. The Hedge Fund company now holds 311,167 shares of PWR which is valued at $7,909,865. Quanta Services Inc makes up approx 0.02% of California State Teachers Retirement System’s portfolio.Chicago Equity Partners boosted its stake in PWR in the latest quarter, The investment management firm added 101,760 additional shares and now holds a total of 124,730 shares of Quanta Services Inc which is valued at $3,193,088. Quanta Services Inc makes up approx 0.09% of Chicago Equity Partners’s portfolio. Daiwa Securities Group sold out all of its stake in PWR during the most recent quarter. The investment firm sold 5,100 shares of PWR which is valued $131,784.Robeco Institutional Asset Management B.v. reduced its stake in PWR by selling 91,541 shares or 25.93% in the most recent quarter. The Hedge Fund company now holds 261,547 shares of PWR which is valued at $6,643,294. Quanta Services Inc makes up approx 0.05% of Robeco Institutional Asset Management B.v.’s portfolio.Gateway Investment Advisers reduced its stake in PWR by selling 219 shares or 1.89% in the most recent quarter. The Hedge Fund company now holds 11,371 shares of PWR which is valued at $289,165.

Quanta Services Inc closed down -1.97 points or -7.75% at $23.45 with 58,67,721 shares getting traded on Thursday. Post opening the session at $24.42, the shares hit an intraday low of $23.22 and an intraday high of $24.61 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Quanta Services Inc reported $0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.37. The company had revenue of $1790.00 million for the quarter, compared to analysts expectations of $1859.12 million. The company’s revenue was down -4.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 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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