Union Bancaire Privee UBP SA Buys Shares of 149,199 Quanta Services, Inc. (NYSE:PWR)

Union Bancaire Privee UBP SA purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 149,199 shares of the construction company's stock, valued at approximately $46,364,000. Union Bancaire Privee UBP SA owned about 0.10% of Quanta Services as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Quanta Services by 46.4% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the construction company's stock valued at $539,000 after acquiring an additional 573 shares during the period. PFG Investments LLC lifted its stake in shares of Quanta Services by 13.7% in the 4th quarter. PFG Investments LLC now owns 1,036 shares of the construction company's stock worth $328,000 after purchasing an additional 125 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $95,000. Granite Group Advisors LLC bought a new stake in Quanta Services during the fourth quarter valued at approximately $201,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Quanta Services by 21.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 905 shares of the construction company's stock valued at $286,000 after buying an additional 161 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Daiwa America raised Quanta Services to a "strong-buy" rating in a report on Friday, December 6th. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Citigroup boosted their price objective on Quanta Services from $348.00 to $394.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus raised their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $329.88.

Quanta Services Price Performance

PWR traded down $65.42 during trading hours on Monday, hitting $292.61. The company's stock had a trading volume of 4,482,134 shares, compared to its average volume of 1,354,370. Quanta Services, Inc. has a 12 month low of $193.52 and a 12 month high of $365.88. The stock has a market cap of $43.19 billion, a price-to-earnings ratio of 53.99 and a beta of 1.06. The business's 50-day moving average price is $331.29 and its 200-day moving average price is $300.43. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The business's revenue was up 15.5% compared to the same quarter last year. Sell-side analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is 7.38%.

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.