Robeco Schweiz AG Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Robeco Schweiz AG lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 590,600 shares of the construction company’s stock after selling 9,400 shares during the quarter. Quanta Services accounts for approximately 2.9% of Robeco Schweiz AG’s portfolio, making the stock its 4th largest position. Robeco Schweiz AG’s holdings in Quanta Services were worth $150,066,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Artisan Partners Limited Partnership grew its stake in Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares during the period. Norges Bank bought a new position in shares of Quanta Services in the 4th quarter worth $335,777,000. Public Employees Retirement Association of Colorado grew its position in Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after purchasing an additional 1,052,496 shares during the period. Swedbank AB bought a new stake in Quanta Services during the 1st quarter valued at $227,218,000. Finally, Capital World Investors raised its holdings in Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after buying an additional 643,011 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 2.1 %

Shares of NYSE:PWR opened at $268.50 on Friday. The company has a market capitalization of $39.56 billion, a PE ratio of 52.03 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business has a fifty day moving average price of $259.87 and a two-hundred day moving average price of $259.84.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. Analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Wall Street Analyst Weigh In

PWR has been the subject of several recent research reports. B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Truist Financial restated a “buy” rating and issued a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Northland Securities upped their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $284.50.

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.