J. Safra Sarasin Holding AG Trims Stock Position in Quanta Services, Inc. $PWR

J. Safra Sarasin Holding AG trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 9.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,184 shares of the construction company’s stock after selling 974 shares during the period. J. Safra Sarasin Holding AG’s holdings in Quanta Services were worth $3,472,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SCP Investment LP acquired a new stake in shares of Quanta Services in the 1st quarter valued at about $966,000. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $298,000. Swedbank AB grew its position in shares of Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after acquiring an additional 401,418 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock valued at $17,480,000 after acquiring an additional 2,479 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock valued at $404,000 after purchasing an additional 588 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 0.0%

Quanta Services stock opened at $420.71 on Friday. The stock’s 50 day moving average price is $389.67 and its 200 day moving average price is $348.44. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $431.24. The company has a market cap of $62.69 billion, a PE ratio of 65.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is currently 6.19%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective on the stock. in a research note on Monday, July 28th. Roth Capital restated a “buy” rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. TD Cowen increased their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Evercore ISI boosted their target price on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $404.27.

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.