Robeco Schweiz AG lowered its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 350,496 shares of the construction company's stock after selling 124,354 shares during the quarter. Quanta Services makes up about 2.2% of Robeco Schweiz AG's holdings, making the stock its 9th biggest position. Robeco Schweiz AG owned about 0.24% of Quanta Services worth $89,089,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PWR. Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter valued at $298,000. Proficio Capital Partners LLC acquired a new position in Quanta Services in the 4th quarter valued at $53,949,000. Independent Advisor Alliance raised its holdings in Quanta Services by 8.5% in the 4th quarter. Independent Advisor Alliance now owns 11,073 shares of the construction company's stock valued at $3,500,000 after acquiring an additional 864 shares during the last quarter. Sage Mountain Advisors LLC acquired a new position in Quanta Services in the 4th quarter valued at $204,000. Finally, Natural Investments LLC acquired a new position in Quanta Services in the 4th quarter valued at $216,000. Hedge funds and other institutional investors own 90.49% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Stifel Nicolaus upped their price objective on Quanta Services from $363.00 to $411.00 and gave the stock a "buy" rating in a report on Friday. Truist Financial dropped their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Argus set a $375.00 price objective on Quanta Services in a report on Monday, May 5th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $353.35.
Read Our Latest Analysis on PWR
Quanta Services Stock Up 0.9%
Shares of Quanta Services stock traded up $3.54 during trading hours on Friday, hitting $383.63. 906,737 shares of the company's stock traded hands, compared to its average volume of 1,060,505. The stock has a 50 day simple moving average of $355.23 and a 200-day simple moving average of $310.37. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company has a market cap of $56.88 billion, a PE ratio of 61.88, a PEG ratio of 2.99 and a beta of 1.08. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $388.00.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned $1.41 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. Quanta Services's dividend payout ratio (DPR) is 6.45%.
Quanta Services Company Profile
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Free Report)
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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