Gulf International Bank UK Ltd Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Quanta Services, Inc. by 24.5%, holding 8,581 shares valued at approximately $2.18 million as of the recent filing.
• Several institutional investors, including Vanguard and Bank of America, have increased their positions in Quanta Services, with institutional ownership now at 90.49%.
• Quanta Services recently reported earnings of $2.48 EPS for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.10 per share.

Gulf International Bank UK Ltd trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,581 shares of the construction company's stock after selling 2,787 shares during the period. Gulf International Bank UK Ltd's holdings in Quanta Services were worth $2,181,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. Capital World Investors boosted its holdings in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the period. Bank of America Corp DE boosted its holdings in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the period. Nuveen LLC bought a new position in Quanta Services in the 1st quarter valued at $404,288,000. Finally, Northern Trust Corp lifted its holdings in shares of Quanta Services by 18.5% during the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after acquiring an additional 232,375 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

PWR traded up $2.45 during trading on Friday, hitting $379.96. The company's stock had a trading volume of 1,436,415 shares, compared to its average volume of 1,312,980. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The firm has a market cap of $56.62 billion, a PE ratio of 58.82, a P/E/G ratio of 2.26 and a beta of 1.10. The business's 50 day simple moving average is $382.86 and its 200-day simple moving average is $322.64.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 earnings per share. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. DA Davidson boosted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. 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.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price 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.