Quanta Services, Inc. (NYSE:PWR) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 58.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,244 shares of the construction company’s stock after selling 1,759 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Quanta Services were worth $323,000 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. Hazlett Burt & Watson Inc. boosted its stake in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Quanta Services during the 4th quarter worth $34,000. Valley National Advisers Inc. acquired a new stake in Quanta Services during the 4th quarter worth $41,000. Vestor Capital LLC acquired a new stake in Quanta Services during the 4th quarter worth $42,000. Finally, Planned Solutions Inc. acquired a new stake in Quanta Services during the 4th quarter worth $43,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PWR shares. B. Riley boosted their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Truist Financial reissued a “buy” rating and set a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Citigroup boosted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. DA Davidson boosted their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Argus boosted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $268.85.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $274.00 on Monday. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The company has a market cap of $40.11 billion, a PE ratio of 53.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The business has a 50-day simple moving average of $266.75 and a 200-day simple moving average of $238.72.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

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.