EFG Asset Management North America Corp. Sells 1,559 Shares of Quanta Services, Inc. (NYSE:PWR)

EFG Asset Management North America Corp. cut its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,799 shares of the construction company's stock after selling 1,559 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Quanta Services were worth $4,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after buying an additional 161,277 shares during the period. State Street Corp boosted its stake in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after acquiring an additional 89,975 shares during the period. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock valued at $1,027,887,000 after purchasing an additional 46,357 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after purchasing an additional 43,715 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock valued at $323,797,000 after purchasing an additional 45,486 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

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Analyst Ratings Changes

Several brokerages have recently issued reports on PWR. Stifel Nicolaus reduced their price target on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a report on Monday, February 24th. Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, Citigroup reduced their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $326.79.

Quanta Services Price Performance

NYSE:PWR traded down $2.81 during trading hours on Friday, reaching $252.07. The company had a trading volume of 512,330 shares, compared to its average volume of 1,712,896. The stock has a 50-day moving average of $284.73 and a two-hundred day moving average of $304.34. The firm has a market capitalization of $37.36 billion, a PE ratio of 41.80, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

Quanta Services Company 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.