Sarasin & Partners LLP Decreases Holdings in Quanta Services, Inc. (NYSE:PWR)

Sarasin & Partners LLP cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,074 shares of the construction company's stock after selling 2,244 shares during the quarter. Sarasin & Partners LLP's holdings in Quanta Services were worth $4,848,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PWR. Norges Bank bought a new stake in Quanta Services in the 4th quarter valued at about $544,937,000. Capital World Investors grew its stake in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after acquiring an additional 891,977 shares during the period. GAMMA Investing LLC raised its position in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after purchasing an additional 811,797 shares during the period. Raymond James Financial Inc. acquired a new stake in Quanta Services in the 4th quarter valued at $203,068,000. Finally, Bank of America Corp DE increased its stake in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PWR. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Citigroup cut their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. DA Davidson increased their price target on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Truist Financial cut their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $349.65.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $2.49 during midday trading on Thursday, reaching $358.27. 859,763 shares of the company traded hands, compared to its average volume of 1,512,317. The firm's fifty day moving average price is $312.08 and its two-hundred day moving average price is $304.75. The firm has a market capitalization of $53.12 billion, a price-to-earnings ratio of 59.41, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business's quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services's payout ratio is presently 6.45%.

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.