Quanta Services, Inc. (NYSE:PWR) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,414 shares of the construction company's stock after selling 1,654 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Quanta Services were worth $1,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new stake in Quanta Services during the 4th quarter valued at $27,000. Sound Income Strategies LLC lifted its stake in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Quanta Services in the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc raised its stake in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 10.2 %

PWR traded up $29.81 during trading hours on Thursday, reaching $322.50. The company's stock had a trading volume of 3,300,756 shares, compared to its average volume of 1,646,667. The stock has a market cap of $47.82 billion, a PE ratio of 53.48, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business's 50-day moving average is $262.54 and its 200-day moving average is $300.16.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PWR. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 price target on the stock. Truist Financial cut their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Roth Mkm started coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target on the stock. Finally, Piper Sandler started coverage on shares of Quanta Services in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $286.00 target price on the stock. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $321.70.

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.