Pictet Asset Management Holding SA Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Pictet Asset Management Holding SA grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,009 shares of the construction company’s stock after purchasing an additional 11,569 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Quanta Services worth $29,712,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PWR. Norges Bank acquired a new stake in Quanta Services in the fourth quarter valued at $544,937,000. Blair William & Co. IL lifted its stake in shares of Quanta Services by 37.2% in the fourth quarter. Blair William & Co. IL now owns 36,331 shares of the construction company’s stock valued at $11,482,000 after purchasing an additional 9,859 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Quanta Services by 15.6% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,424 shares of the construction company’s stock worth $1,082,000 after buying an additional 461 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in Quanta Services during the fourth quarter worth about $63,000. Finally, NEOS Investment Management LLC lifted its position in shares of Quanta Services by 72.5% during the 4th quarter. NEOS Investment Management LLC now owns 8,231 shares of the construction company’s stock valued at $2,601,000 after acquiring an additional 3,459 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Down 0.3 %

Shares of PWR stock opened at $254.17 on Monday. The firm’s 50-day simple moving average is $283.07 and its 200-day simple moving average is $305.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The firm has a market cap of $37.67 billion, a P/E ratio of 42.15, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its quarterly 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. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Quanta Services’s dividend payout ratio is presently 6.63%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PWR shares. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

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.