Pictet Asset Management Holding SA Grows Stake in Quanta Services, Inc. (NYSE:PWR)

Pictet Asset Management Holding SA lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,009 shares of the construction company’s stock after buying an additional 11,569 shares during the period. Pictet Asset Management Holding SA’s holdings in Quanta Services were worth $29,712,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC acquired a new stake in Quanta Services in the third quarter valued at approximately $211,000. CreativeOne Wealth LLC acquired a new stake in Quanta Services during the 3rd quarter valued at $656,000. Erste Asset Management GmbH purchased a new stake in Quanta Services during the 3rd quarter worth $21,696,000. Paloma Partners Management Co lifted its holdings in Quanta Services by 139.3% in the 3rd quarter. Paloma Partners Management Co now owns 682 shares of the construction company’s stock worth $203,000 after buying an additional 397 shares in the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Quanta Services by 0.3% during the third quarter. Bamco Inc. NY now owns 322,789 shares of the construction company’s stock valued at $96,240,000 after acquiring an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PWR shares. B. Riley reiterated a “neutral” rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Stifel Nicolaus decreased their price objective 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. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Seven equities 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. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Performance

PWR opened at $254.17 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $283.07 and its 200-day moving average is $305.05. The stock has a market cap of $37.67 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Quanta Services’s dividend payout ratio is presently 6.63%.

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.