EFG Asset Management North America Corp. Lowers Position in Quanta Services, Inc. (NYSE:PWR)

EFG Asset Management North America Corp. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,799 shares of the construction company’s stock after selling 1,559 shares during the period. EFG Asset Management North America Corp.’s holdings in Quanta Services were worth $4,049,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Kestra Private Wealth Services LLC grew its stake in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after acquiring an additional 2,184 shares in the last quarter. Principal Financial Group Inc. grew its position in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp increased its stake in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after buying an additional 793 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC bought a new position in shares of Quanta Services in the fourth quarter valued at approximately $1,754,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PWR. Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Trading Up 4.1 %

Shares of PWR opened at $279.21 on Tuesday. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The stock has a market cap of $41.38 billion, a PE ratio of 46.30, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $288.60 and its 200-day moving average price is $304.81.

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

Quanta Services Dividend Announcement

The firm 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

About Quanta Services

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.