Vontobel Holding Ltd. Sells 76,667 Shares of Quanta Services, Inc. (NYSE:PWR)

Vontobel Holding Ltd. lessened its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 730,209 shares of the construction company's stock after selling 76,667 shares during the quarter. Quanta Services makes up approximately 0.8% of Vontobel Holding Ltd.'s investment portfolio, making the stock its 24th largest position. Vontobel Holding Ltd. owned 0.50% of Quanta Services worth $157,579,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PWR. Norges Bank bought a new position in Quanta Services in the 4th quarter valued at approximately $180,853,000. Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock worth $196,205,000 after purchasing an additional 901,548 shares during the last quarter. Royal Bank of Canada raised its holdings in Quanta Services by 52.2% during the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company's stock worth $196,405,000 after purchasing an additional 511,508 shares during the last quarter. Deutsche Bank AG raised its holdings in Quanta Services by 113.7% during the 1st quarter. Deutsche Bank AG now owns 643,054 shares of the construction company's stock worth $107,159,000 after purchasing an additional 342,100 shares during the last quarter. Finally, CI Private Wealth LLC bought a new position in Quanta Services during the 4th quarter worth approximately $42,168,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR traded down $3.31 during midday trading on Friday, hitting $254.69. 632,500 shares of the company's stock were exchanged, compared to its average volume of 756,216. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The business's fifty day moving average price is $238.74 and its two-hundred day moving average price is $206.93. The company has a market cap of $37.12 billion, a price-to-earnings ratio of 50.84 and a beta of 1.11. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the business earned $1.54 earnings per share. The business's quarterly revenue was up 31.0% on a year-over-year basis. As a group, research analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services's dividend payout ratio (DPR) is presently 7.19%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial assumed coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a "buy" rating and a $301.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a "buy" rating in a research report on Monday, February 26th. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 price objective for the company. KeyCorp assumed coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They set a "sector weight" rating for the company. Finally, Citigroup raised their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the stock a "buy" rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $239.54.

Insider Activity

In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company's stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.20% of the stock is currently owned by company insiders.

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.