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

Banque Cantonale Vaudoise lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 30.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,066 shares of the construction company’s stock after selling 925 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Quanta Services were worth $616,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PWR. Princeton Capital Management LLC boosted its position in Quanta Services by 1.3% during the third quarter. Princeton Capital Management LLC now owns 24,491 shares of the construction company’s stock worth $7,302,000 after acquiring an additional 320 shares during the last quarter. Prospera Financial Services Inc acquired a new position in Quanta Services during the third quarter valued at approximately $900,000. Pathstone Holdings LLC boosted its position in Quanta Services by 4.5% during the 3rd quarter. Pathstone Holdings LLC now owns 32,552 shares of the construction company’s stock worth $9,705,000 after purchasing an additional 1,416 shares during the period. Meeder Advisory Services Inc. boosted its position in shares of Quanta Services by 27.6% in the third quarter. Meeder Advisory Services Inc. now owns 3,085 shares of the construction company’s stock worth $920,000 after buying an additional 667 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services in the third quarter valued at approximately $41,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group increased their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $340.01 on Friday. The stock has a market cap of $50.19 billion, a PE ratio of 62.73 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $342.28. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $306.37 and a 200-day simple moving average of $279.24.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $2.08 earnings per share. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Quanta Services Company 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.