Nomura Asset Management Co. Ltd. raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 23.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 146,965 shares of the construction company's stock after purchasing an additional 28,299 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.10% of Quanta Services worth $31,715,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. raised its holdings in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company's stock worth $34,000 after purchasing an additional 52 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $36,000. Valley National Advisers Inc. purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $41,000. Vestor Capital LLC acquired a new position in Quanta Services during the fourth quarter worth $42,000. Finally, Planned Solutions Inc. purchased a new position in Quanta Services in the fourth quarter worth $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Trading Up 2.5 %
Shares of PWR traded up $6.88 on Friday, hitting $283.43. 1,165,810 shares of the stock traded hands, compared to its average volume of 1,016,823. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $285.97. The stock's 50 day moving average is $259.21 and its two-hundred day moving average is $225.40. The firm has a market capitalization of $41.49 billion, a P/E ratio of 54.93 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.69 earnings per share for the current year.
Quanta Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date is Monday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.98%.
Insider Activity
In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares of the company's stock, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the company's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares of the company's stock, valued at $10,494,626.10. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on PWR shares. The Goldman Sachs Group upped their price target on shares of Quanta Services from $227.00 to $259.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. B. Riley lifted their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a "buy" rating in a research report on Friday, May 3rd. Truist Financial restated a "buy" rating and issued a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Citigroup lifted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 22nd. Finally, Evercore ISI upped their target price on Quanta Services from $255.00 to $288.00 and gave the company an "outperform" rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $262.00.
Check Out Our Latest Report on PWR
About Quanta Services
(Free Report)
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.
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