Edmond DE Rothschild Holding S.A. Sells 4,185 Shares of Quanta Services, Inc. (NYSE:PWR)

Edmond DE Rothschild Holding S.A. cut its stake in Quanta Services, Inc. (NYSE:PWRFree Report) by 41.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the construction company’s stock after selling 4,185 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Quanta Services were worth $1,295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Millington Financial Advisors LLC grew its position in Quanta Services by 1.5% during the 3rd quarter. Millington Financial Advisors LLC now owns 8,340 shares of the construction company’s stock worth $1,560,000 after purchasing an additional 120 shares during the last quarter. Private Advisor Group LLC raised its position in Quanta Services by 2.0% during the third quarter. Private Advisor Group LLC now owns 7,875 shares of the construction company’s stock worth $1,473,000 after acquiring an additional 152 shares during the period. NBC Securities Inc. purchased a new position in Quanta Services in the 3rd quarter valued at about $36,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Quanta Services by 12.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 135,836 shares of the construction company’s stock worth $25,411,000 after acquiring an additional 14,727 shares during the last quarter. Finally, abrdn plc boosted its stake in Quanta Services by 2.5% during the 3rd quarter. abrdn plc now owns 75,547 shares of the construction company’s stock worth $14,133,000 after purchasing an additional 1,840 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Margaret B. Shannon sold 8,515 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at $8,172,394.96. The disclosure for this sale can be found here. In the last three months, insiders sold 19,053 shares of company stock valued at $4,616,034. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of PWR traded up $1.88 during trading hours on Wednesday, reaching $281.52. The company had a trading volume of 110,661 shares, compared to its average volume of 936,659. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The firm has a 50 day simple moving average of $260.67 and a 200-day simple moving average of $227.34. The company has a market capitalization of $41.21 billion, a price-to-earnings ratio of 54.19 and a beta of 1.10.

Quanta Services (NYSE:PWRGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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%. Research analysts expect that Quanta Services, Inc. will post 7.69 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, July 12th. Investors of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Monday, July 1st. Quanta Services’s payout ratio is currently 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. The Goldman Sachs Group lifted their target price on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen increased their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Evercore ISI lifted their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, DA Davidson lifted their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.08.

Check Out Our Latest Analysis on PWR

Quanta Services Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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