ABN AMRO Bank N.V. Acquires 55,187 Shares of Quanta Services, Inc. $PWR

ABN AMRO Bank N.V. grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 164.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,669 shares of the construction company’s stock after purchasing an additional 55,187 shares during the quarter. ABN AMRO Bank N.V.’s holdings in Quanta Services were worth $36,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Quanta Services by 1.9% in the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after buying an additional 339,383 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Quanta Services by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock worth $2,579,259,000 after acquiring an additional 49,334 shares in the last quarter. State Street Corp lifted its stake in shares of Quanta Services by 0.4% during the 2nd quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock worth $2,271,235,000 after purchasing an additional 24,669 shares during the last quarter. Geode Capital Management LLC grew its stake in Quanta Services by 4.1% in the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock valued at $1,458,362,000 after purchasing an additional 152,823 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Quanta Services by 57.2% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after purchasing an additional 882,209 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 5.0%

NYSE:PWR opened at $464.35 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The company’s fifty day moving average price is $449.69 and its 200-day moving average price is $424.23. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $492.80. The firm has a market capitalization of $69.24 billion, a P/E ratio of 68.79, a PEG ratio of 2.37 and a beta of 1.15.

Analysts Set New Price Targets

PWR has been the topic of a number of analyst reports. Jefferies Financial Group cut their price objective on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Stifel Nicolaus raised their target price on shares of Quanta Services from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Citigroup increased their price objective on Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a report on Monday, January 26th. Cantor Fitzgerald began coverage on Quanta Services in a research report on Friday, January 23rd. They issued an “overweight” rating and a $520.00 price objective for the company. Finally, Mizuho set a $415.00 target price on Quanta Services in a research report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $462.00.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.