Bank Julius Baer & Co. Ltd Zurich Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

Bank Julius Baer & Co. Ltd Zurich decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 90.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 680 shares of the construction company’s stock after selling 6,730 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Quanta Services were worth $147,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PWR. Grove Bank & Trust boosted its position in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. NBC Securities Inc. purchased a new position in Quanta Services during the third quarter worth approximately $36,000. Valley National Advisers Inc. purchased a new position in Quanta Services during the fourth quarter worth approximately $41,000. Finally, Planned Solutions Inc. purchased a new position in Quanta Services during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Cowen increased their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group increased their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Truist Financial began coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Stifel Nicolaus increased their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.67.

Quanta Services Trading Up 2.5 %

PWR opened at $261.66 on Monday. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The business has a fifty day simple moving average of $246.91 and a 200-day simple moving average of $211.87. The firm has a market cap of $38.30 billion, a P/E ratio of 52.23 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the business posted $1.54 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. On average, equities analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is presently 7.19%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following 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. Also, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now directly owns 41,954 shares in the company, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is owned by corporate insiders.

About Quanta Services

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.