Contravisory Investment Management Inc. Increases Stake in Quanta Services, Inc.

Contravisory Investment Management Inc. has increased its position in Quanta Services, Inc. by 2.0% in the second quarter, according to a recent filing with the Securities & Exchange Commission. The institutional investor purchased an additional 98 shares, resulting in a total of 5,100 shares of Quanta Services stock. 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 stakes in Quanta Services. Vanguard Group Inc., for example, increased its stake in the construction company by 1.2% in the first quarter, acquiring an additional 182,092 shares. JPMorgan Chase & Co. raised its position in Quanta Services by 9.0% in the fourth quarter. FMR LLC raised its position by 19.7% in the first quarter. State Street Corp raised its position by 0.4% in the first quarter. Finally, Geode Capital Management LLC raised its holdings by 1.8% in the first quarter. Overall, institutional investors now own 87.86% of Quanta Services’ stock.

Quanta Services has been the subject of several research analyst reports. DA Davidson raised their target price on Quanta Services’ shares from $170.00 to $190.00 and gave the stock a “neutral” rating. Robert W. Baird also reiterated an “outperform” rating and assigned a price objective of $219.00. Credit Suisse Group lifted their price objective from $201.00 to $238.00 and gave Quanta Services an “outperform” rating. began coverage on Quanta Services with a “hold” rating. Citigroup raised their price objective to $234.00 and gave the company a “buy” rating. The stock currently has an average rating of “Moderate Buy” and an average target price of $205.27.

Quanta Services’ stock was 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 stock has a 50-day moving average price of $203.35 and a 200-day moving average price of $183.22. Quanta Services reported $1.47 EPS for the quarter, missing the consensus estimate of $1.53 by $0.06.

Quanta Services has declared a quarterly dividend of $0.08 per share, payable on October 13th to stockholders of record as of October 2nd. The ex-dividend date is September 29th, and the dividend yield is 0.16%. Company insiders, 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 and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. Their Electric Power Infrastructure Solutions segment is involved in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities.

– Securities & Exchange Commission filing
– Quanta Services website