Sarasin & Partners LLP Sells 4,482 Shares of Quanta Services, Inc. (NYSE:PWR)

Sarasin & Partners LLP lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 21.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,836 shares of the construction company's stock after selling 4,482 shares during the period. Sarasin & Partners LLP's holdings in Quanta Services were worth $4,279,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PWR. Norges Bank acquired a new stake in shares of Quanta Services during the 4th quarter worth about $544,937,000. Capital World Investors grew its stake in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after buying an additional 891,977 shares during the last quarter. GAMMA Investing LLC raised its holdings in Quanta Services by 22,475.0% in the 1st 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. Raymond James Financial Inc. acquired a new stake in Quanta Services during the fourth quarter worth approximately $203,068,000. Finally, Bank of America Corp DE boosted its holdings in shares of 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 during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE PWR traded up $11.29 during midday trading on Tuesday, hitting $356.82. 1,133,626 shares of the stock traded hands, compared to its average volume of 1,548,859. The firm has a market capitalization of $52.90 billion, a P/E ratio of 59.17, a PEG ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The firm has a 50-day moving average of $297.68 and a two-hundred day moving average of $303.25.

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

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on PWR shares. TD Cowen boosted their price target on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Citigroup reduced their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial lowered their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler reiterated an "overweight" rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group decreased their price target on Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $344.85.

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.