J. Safra Sarasin Holding AG Trims Position in Quanta Services, Inc. $PWR

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Quanta Services, Inc. by 9.6%, owning 9,184 shares valued at approximately $3.47 million after selling 974 shares in the 2nd quarter.
• Multiple brokerages have downgraded the stock ratings for Quanta Services, with a current average rating of "Moderate Buy" and a price target of $404.27.
• Quanta Services reported an earnings per share of $2.48 for the last quarter, exceeding analysts' estimates, with a revenue of $6.77 billion, marking a 21.1% increase year-over-year.

J. Safra Sarasin Holding AG decreased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,184 shares of the construction company's stock after selling 974 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Quanta Services were worth $3,472,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Old Port Advisors lifted its holdings in Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock valued at $1,491,000 after acquiring an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after purchasing an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock worth $792,000 after purchasing an additional 34 shares during the period. Legacy Capital Wealth Partners LLC lifted its position in Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after buying an additional 36 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Quanta Services by 2.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after buying an additional 37 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PWR. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a report on Wednesday, July 2nd. Finally, Roth Capital restated a "buy" rating and set a $450.00 target price (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $404.27.

Quanta Services Price Performance

PWR stock opened at $420.71 on Friday. The business's 50-day moving average is $389.67 and its two-hundred day moving average is $348.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm has a market capitalization of $62.69 billion, a P/E ratio of 65.13, a P/E/G ratio of 2.50 and a beta of 1.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $431.24.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The business's quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

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.

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