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

Banque Pictet & Cie SA lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,875 shares of the construction company's stock after selling 2,475 shares during the quarter. Banque Pictet & Cie SA's holdings in Quanta Services were worth $2,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Banque Transatlantique SA bought a new stake in shares of Quanta Services during the 4th quarter worth about $25,000. Quarry LP bought a new stake in Quanta Services in the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after purchasing an additional 113 shares during the period. OLD Second National Bank of Aurora bought a new stake in Quanta Services in the 1st quarter valued at about $42,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after purchasing an additional 81 shares during the period. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of recent research reports. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Piper Sandler reissued an "overweight" rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research report on Friday, May 2nd. Truist Financial dropped their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Nine investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $353.35.

Quanta Services Trading Up 0.4%

NYSE PWR traded up $1.56 on Friday, hitting $381.65. The company's stock had a trading volume of 463,002 shares, compared to its average volume of 1,457,967. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $388.00. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company's 50-day moving average is $353.98 and its 200 day moving average is $310.15. The firm has a market cap of $56.58 billion, a PE ratio of 61.56, a PEG ratio of 2.97 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the prior year, the company posted $1.41 earnings per share. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.45%.

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.