Natixis Advisors LLC Sells 1,359 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Natixis Advisors LLC has reduced its holdings in Quanta Services, Inc. by 1.5%, now owning about 0.06% of the company, valued at approximately $22.64 million.
• Quanta Services reported a 21.1% increase in revenue year-over-year, with quarterly earnings of $2.48 per share, exceeding consensus estimates of $2.44.
• The company announced a quarterly dividend of $0.10 per share, representing an annualized yield of 0.1% and a dividend payout ratio of 6.19%.

Natixis Advisors LLC trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 89,062 shares of the construction company's stock after selling 1,359 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Quanta Services worth $22,638,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Capital World Investors raised its holdings in shares of Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after buying an additional 891,977 shares in the last quarter. GAMMA Investing LLC grew its position in Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the period. Bank of America Corp DE raised its stake in Quanta Services by 42.8% during the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after acquiring an additional 506,722 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after acquiring an additional 504,540 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Quanta Services by 210.8% in the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock valued at $174,016,000 after purchasing an additional 373,429 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 2.7%

Shares of NYSE:PWR traded down $10.95 during trading on Friday, hitting $395.18. 2,094,000 shares of the company's stock were exchanged, compared to its average volume of 1,221,699. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $58.89 billion, a P/E ratio of 61.17, a PEG ratio of 2.71 and a beta of 1.10. The firm has a 50-day moving average price of $375.39 and a two-hundred day moving average price of $318.81. 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 earnings results on Thursday, July 31st. The construction company reported $2.48 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 analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders 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 annualized dividend and a yield of 0.1%. Quanta Services's dividend payout ratio is presently 6.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PWR. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a report on Monday, July 28th. Piper Sandler reiterated an "overweight" rating and issued a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and increased their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $379.32.

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.