Vontobel Holding Ltd. Sells 78,837 Shares of Quanta Services, Inc. (NYSE:PWR)

Vontobel Holding Ltd. reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,267 shares of the construction company's stock after selling 78,837 shares during the quarter. Vontobel Holding Ltd. owned about 0.15% of Quanta Services worth $54,717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Quanta Services during the fourth quarter valued at $544,937,000. 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 valued at $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Quanta Services by 22,475.0% during 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 last quarter. Raymond James Financial Inc. purchased a new position in shares of Quanta Services during the fourth quarter worth about $203,068,000. Finally, Bank of America Corp DE increased its position in shares of Quanta Services by 42.8% in 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 purchasing an additional 506,722 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 1.6%

Shares of NYSE:PWR traded down $6.07 during midday trading on Tuesday, hitting $372.01. 1,428,816 shares of the stock traded hands, compared to its average volume of 1,491,483. 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 business's 50 day moving average is $339.24 and its two-hundred day moving average is $307.04. The stock has a market capitalization of $55.15 billion, a PE ratio of 60.00, a P/E/G ratio of 2.97 and a beta of 1.07. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $382.79.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter last year, the business posted $1.41 EPS. The business's revenue was up 23.9% on a year-over-year basis. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

Analyst Upgrades and Downgrades

PWR has been the subject of several research analyst reports. Citigroup dropped 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. DA Davidson upped their target price on shares of Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Truist Financial reduced their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. B. Riley lifted their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets set a $352.00 price objective on Quanta Services in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and an average price target of $349.65.

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.