Swiss National Bank Has $97.98 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Swiss National Bank lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 454,035 shares of the construction company's stock after selling 13,000 shares during the quarter. Swiss National Bank owned 0.31% of Quanta Services worth $97,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Truist Financial Corp lifted its stake in shares of Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company's stock worth $93,400,000 after acquiring an additional 9,421 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its stake in shares of Quanta Services by 24.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company's stock valued at $356,000 after purchasing an additional 325 shares during the period. Gradient Investments LLC grew its holdings in shares of Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company's stock worth $11,555,000 after purchasing an additional 53,535 shares during the last quarter. Saxon Interests Inc. purchased a new position in Quanta Services in the 4th quarter worth about $1,352,000. Finally, Nordea Investment Management AB lifted 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 valued at $196,205,000 after buying an additional 901,548 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Evercore ISI initiated coverage on Quanta Services in a report on Tuesday, February 13th. They issued an "outperform" rating and a $237.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. Robert W. Baird lifted their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group upped their target price on Quanta Services from $227.00 to $259.00 and gave the stock a "buy" rating in a report on Monday, February 26th. Finally, DA Davidson boosted their price target on Quanta Services from $190.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.85.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 owns 7,486 shares of the company's stock, valued at approximately $1,776,502.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Performance

PWR stock traded up $1.33 during midday trading on Friday, hitting $256.33. 970,817 shares of the stock traded hands, compared to its average volume of 893,668. The stock's fifty day simple moving average is $250.69 and its 200-day simple moving average is $214.98. The firm has a market cap of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $1.54 earnings per share. Quanta Services's quarterly revenue was up 31.0% compared to the same quarter last year. On average, analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is presently 6.98%.

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.