Harel Insurance Investments & Financial Services Ltd. Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Harel Insurance Investments & Financial Services Ltd. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 49.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,082 shares of the construction company's stock after selling 3,000 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Quanta Services were worth $783,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PWR. Banque Transatlantique SA bought a new stake in shares of Quanta Services in the fourth quarter worth approximately $25,000. Quarry LP bought a new position in shares of Quanta Services during the 4th quarter valued at $26,000. Rakuten Securities Inc. boosted its stake in shares of Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $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 in the first quarter worth $42,000. Finally, Sound Income Strategies LLC increased its position in shares of Quanta Services by 77.9% during 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 last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 3.5%

PWR stock traded up $13.10 during trading on Friday, hitting $386.51. The company had a trading volume of 869,625 shares, compared to its average volume of 1,121,142. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $387.37. The company has a 50 day simple moving average of $347.47 and a 200-day simple moving average of $308.59. The firm has a market capitalization of $57.30 billion, a P/E ratio of 62.34, a PEG ratio of 3.01 and a beta of 1.08. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating 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 firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The company's revenue was up 23.9% on a year-over-year basis. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. B. Riley increased their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Stifel Nicolaus boosted their price target on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price objective (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a report on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.95.

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.