Quanta Services, Inc. (NYSE:PWR) Stock Holdings Reduced by Swiss National Bank

Swiss National Bank cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,035 shares of the construction company’s stock after selling 13,000 shares during the period. Swiss National Bank owned 0.31% of Quanta Services worth $97,981,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PWR. Truist Financial Corp boosted its holdings in Quanta Services by 2.2% in the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after purchasing an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC increased its holdings in shares of Quanta Services by 24.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after acquiring an additional 325 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after acquiring an additional 53,535 shares in the last quarter. Saxon Interests Inc. acquired a new stake in Quanta Services in the 4th quarter worth approximately $1,352,000. Finally, Nordea Investment Management AB boosted its position in Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $256.33 on Friday. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The business has a fifty day simple moving average of $250.69 and a 200 day simple moving average of $214.68. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is presently 6.98%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PWR shares. The Goldman Sachs Group lifted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. 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 for the company. Stifel Nicolaus lifted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, KeyCorp initiated coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.85.

Insider Buying and Selling

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 in the last 90 days. 1.10% of the stock is owned by company 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.