Deutsche Bank AG Has $255.22 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Deutsche Bank AG reduced its stake in Quanta Services by 17.8%, selling 217,178 shares in the first quarter, leaving it with 1,004,086 shares valued at approximately $255 million.
• Several institutional investors have increased their holdings in Quanta Services, with 90.49% of the stock currently owned by institutional holders.
• Quanta Services has received multiple analyst upgrades recently, with price targets now ranging from $370.00 to $492.00, indicating a strong buy sentiment amidst positive earnings results.

Deutsche Bank AG lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,004,086 shares of the construction company's stock after selling 217,178 shares during the quarter. Deutsche Bank AG owned about 0.68% of Quanta Services worth $255,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Transatlantique SA bought a new position in shares of Quanta Services during the fourth quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in Quanta Services during the 1st quarter worth $25,000. Quarry LP acquired a new stake in shares of Quanta Services during the fourth quarter worth $26,000. OLD Second National Bank of Aurora bought a new stake in shares of Quanta Services in the first quarter valued at about $42,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Quanta Services in the first quarter valued at about $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Up 0.9%

Shares of Quanta Services stock traded up $3.52 on Tuesday, hitting $387.64. The stock had a trading volume of 268,888 shares, compared to its average volume of 1,422,082. The stock has a 50 day moving average of $381.01 and a 200 day moving average of $320.39. The firm has a market capitalization of $57.76 billion, a P/E ratio of 60.01, a PEG ratio of 2.30 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's payout ratio is 6.19%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PWR. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. UBS Group boosted their price target on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Northland Securities lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Finally, Roth Capital restated a "buy" rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services 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.