Robeco Schweiz AG trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 26.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 350,496 shares of the construction company’s stock after selling 124,354 shares during the period. Quanta Services makes up about 2.2% of Robeco Schweiz AG’s investment portfolio, making the stock its 9th biggest position. Robeco Schweiz AG’s holdings in Quanta Services were worth $89,089,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in Quanta Services during the 4th quarter valued at about $25,000. Quarry LP bought a new position in Quanta Services during the 4th quarter valued at about $26,000. Rakuten Securities Inc. lifted its holdings in Quanta Services by 1,027.3% during the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock valued at $39,000 after purchasing an additional 113 shares during the last quarter. OLD Second National Bank of Aurora bought a new position in Quanta Services during the 1st quarter valued at about $42,000. Finally, Sound Income Strategies LLC lifted its holdings in Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock valued at $47,000 after purchasing an additional 81 shares during the last quarter. 90.49% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
PWR has been the subject of several analyst reports. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Friday, June 27th. UBS Group set a $413.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research report on Thursday, June 12th. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research report on Friday, May 2nd. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a research report on Thursday. Finally, Evercore ISI raised their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.95.
Quanta Services Stock Performance
Shares of PWR stock opened at $380.06 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $353.98 and its 200-day simple moving average is $310.15. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $388.00. The firm has a market cap of $56.35 billion, a PE ratio of 61.30, a P/E/G ratio of 2.97 and a beta of 1.08.
Quanta Services (NYSE:PWR – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.
Quanta Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is presently 6.45%.
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.
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