EFG Asset Management North America Corp. Has $3.98 Million Position in Quanta Services, Inc. (NYSE:PWR)

EFG Asset Management North America Corp. decreased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 21.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,418 shares of the construction company's stock after selling 5,030 shares during the period. EFG Asset Management North America Corp.'s holdings in Quanta Services were worth $3,976,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Truist Financial Corp grew its stake in Quanta Services by 2.2% in the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company's stock valued at $93,400,000 after buying an additional 9,421 shares during the last quarter. Carnegie Capital Asset Management LLC raised its holdings in Quanta Services by 24.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company's stock valued at $356,000 after acquiring an additional 325 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Quanta Services by 669,187.5% during the 4th 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 in the last quarter. Saxon Interests Inc. acquired a new position in Quanta Services in the fourth quarter valued at about $1,352,000. Finally, Nordea Investment Management AB lifted its position in Quanta Services by 8,297.7% during the fourth 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 period. Institutional investors and hedge funds own 90.49% of the company's stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the business's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company's stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company's stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction dated 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 in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Up 0.2 %

PWR stock traded up $0.58 during trading on Friday, reaching $264.40. The stock had a trading volume of 794,694 shares, compared to its average volume of 936,609. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $38.71 billion, a price-to-earnings ratio of 51.24 and a beta of 1.10. The company's 50 day moving average is $255.96 and its two-hundred day moving average is $221.29. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $273.00.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business's revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 7.68 EPS for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Citigroup lifted their target price on Quanta Services from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Truist Financial reissued a "buy" rating and issued a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. DA Davidson lifted their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a "neutral" rating in a report on Tuesday, May 7th. Finally, Robert W. Baird increased their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.00.

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.

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