J. Safra Sarasin Holding AG Sells 7,498 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Quanta Services, Inc. by 42.5%, now holding 10,158 shares worth approximately $2.58 million.
• Quanta Services recently reported earnings of $2.48 per share for the last quarter, surpassing analysts' estimates and showing a 21.1% increase in revenue year-over-year.
• The company has a current dividend yield of 0.1%, with an annualized dividend payout of $0.40.

J. Safra Sarasin Holding AG cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 42.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,158 shares of the construction company's stock after selling 7,498 shares during the period. J. Safra Sarasin Holding AG's holdings in Quanta Services were worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PWR. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at $298,000. Wealth Enhancement Advisory Services LLC raised its stake in Quanta Services by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after buying an additional 2,479 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after buying an additional 588 shares in the last quarter. Objectivity Squared LLC acquired a new stake in Quanta Services in the first quarter valued at $213,000. Finally, Harbor Investment Advisory LLC increased its position in shares of Quanta Services by 485.3% during the first quarter. Harbor Investment Advisory LLC now owns 2,634 shares of the construction company's stock worth $670,000 after purchasing an additional 2,184 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PWR shares. B. Riley lifted 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. Northland Securities lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a report on Wednesday, July 2nd. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Citigroup reaffirmed a "buy" rating and issued a $492.00 price objective (up previously from $432.00) on shares of Quanta Services in a report on Monday, July 28th. Finally, DA Davidson lifted their price objective on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $390.18.

Quanta Services Stock Down 1.4%

Shares of NYSE:PWR traded down $5.60 during trading on Tuesday, reaching $388.02. 213,141 shares of the company traded hands, compared to its average volume of 1,438,844. The firm has a market cap of $57.53 billion, a P/E ratio of 60.07, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. The firm has a fifty day simple moving average of $376.54 and a 200 day simple moving average of $319.21. 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 1-year low of $227.08 and a 1-year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS. Analysts anticipate 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 was paid on Friday, July 11th. Stockholders 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 dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.19%.

About Quanta Services

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.