Banque Pictet & Cie SA Sells 2,475 Shares of Quanta Services, Inc. (NYSE:PWR)

Banque Pictet & Cie SA trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,875 shares of the construction company's stock after selling 2,475 shares during the period. Banque Pictet & Cie SA's holdings in Quanta Services were worth $2,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PWR. Banque Transatlantique SA bought a new position in Quanta Services in the fourth quarter worth about $25,000. Quarry LP bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. raised its holdings in shares of Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after buying an additional 113 shares during the last quarter. OLD Second National Bank of Aurora bought a new stake in shares of Quanta Services during the first quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after buying an additional 81 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Quanta Services stock traded up $3.54 on Friday, reaching $383.63. 906,737 shares of the stock were exchanged, compared to its average volume of 1,066,031. The stock has a market cap of $56.88 billion, a PE ratio of 61.88, a PEG ratio of 2.98 and a beta of 1.08. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $388.00. The firm has a fifty day moving average price of $355.23 and a two-hundred day moving average price of $310.23.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business's revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio is 6.45%.

Analyst Ratings Changes

PWR has been the topic of a number of recent analyst reports. BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. Evercore ISI lifted their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group set a $413.00 price target on shares of Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. The Goldman Sachs Group restated a "buy" rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Finally, Citigroup lowered their price objective on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $353.35.

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.