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

EFG Asset Management North America Corp. trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Webster Bank N. A. increased its holdings in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in Quanta Services in the 4th quarter worth about $27,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the third quarter valued at about $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the third quarter valued at about $30,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial reduced their price objective 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. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Price Performance

PWR stock opened at $279.21 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company’s 50-day moving average is $288.60 and its 200-day moving average is $304.81. The stock has a market capitalization of $41.38 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is 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.