Vontobel Holding Ltd. Lowers Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Vontobel Holding Ltd. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 9.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 730,209 shares of the construction company’s stock after selling 76,667 shares during the quarter. Quanta Services makes up 0.8% of Vontobel Holding Ltd.’s holdings, making the stock its 24th largest holding. Vontobel Holding Ltd.’s holdings in Quanta Services were worth $157,579,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Quanta Services by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after acquiring an additional 182,092 shares during the last quarter. State Street Corp increased its holdings in Quanta Services by 0.4% in the 1st quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock valued at $626,204,000 after acquiring an additional 20,702 shares during the last quarter. FMR LLC increased its holdings in Quanta Services by 1.1% in the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after acquiring an additional 44,141 shares during the last quarter. Geode Capital Management LLC increased its holdings in Quanta Services by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock valued at $502,997,000 after acquiring an additional 53,317 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Quanta Services by 22.4% in the 4th quarter. Morgan Stanley now owns 1,579,601 shares of the construction company’s stock valued at $225,093,000 after acquiring an additional 288,876 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 1.3 %

Quanta Services stock traded down $3.31 during trading hours on Friday, hitting $254.69. The company had a trading volume of 632,500 shares, compared to its average volume of 756,216. The firm has a market cap of $37.12 billion, a P/E ratio of 50.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The company has a 50-day moving average price of $238.74 and a two-hundred day moving average price of $206.81.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The company’s revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be given a $0.09 dividend. The ex-dividend date is Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s payout ratio is presently 7.19%.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Citigroup boosted their target price on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, January 26th. DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Truist Financial began coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.54.

Insider Transactions at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the transaction, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. Company insiders own 1.20% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.