BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stake in Quanta Services, Inc. (NYSE:PWR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 43.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,701 shares of the construction company’s stock after selling 51,505 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Quanta Services were worth $17,069,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Bleakley Financial Group LLC increased its position in Quanta Services by 2.5% during the 1st quarter. Bleakley Financial Group LLC now owns 6,728 shares of the construction company’s stock worth $1,748,000 after purchasing an additional 165 shares in the last quarter. US Bancorp DE grew its holdings in shares of Quanta Services by 2.0% during the first quarter. US Bancorp DE now owns 13,603 shares of the construction company’s stock worth $3,534,000 after buying an additional 270 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Quanta Services by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 66,231 shares of the construction company’s stock valued at $17,205,000 after buying an additional 2,767 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Quanta Services by 7.0% during the first quarter. QRG Capital Management Inc. now owns 8,989 shares of the construction company’s stock valued at $2,335,000 after buying an additional 588 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Quanta Services during the first quarter worth approximately $1,099,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PWR shares. Evercore ISI boosted their price target on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday. Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. DA Davidson increased their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, Citigroup raised their target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.33.

Quanta Services Trading Down 0.1 %

PWR stock traded down $0.22 during midday trading on Friday, reaching $264.49. 62,933 shares of the company’s stock traded hands, compared to its average volume of 941,763. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The business has a 50-day moving average price of $267.92 and a two-hundred day moving average price of $244.62. The company has a market capitalization of $38.72 billion, a P/E ratio of 51.30 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last posted its earnings results 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. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Equities research analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s payout ratio is currently 6.98%.

Quanta Services 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.