Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in Quanta Services, Inc. (NYSE:PWR) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,965 shares of the construction company’s stock after acquiring an additional 28,299 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Quanta Services were worth $31,715,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PWR. Norges Bank acquired a new stake in Quanta Services during the 4th quarter valued at $335,777,000. Nordea Investment Management AB increased its position in shares of Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Quanta Services by 797.6% in the fourth quarter. Corient Private Wealth LLC now owns 613,934 shares of the construction company’s stock worth $132,487,000 after acquiring an additional 545,534 shares in the last quarter. UBS Group AG raised its position in shares of Quanta Services by 31.5% in the 4th quarter. UBS Group AG now owns 1,246,229 shares of the construction company’s stock valued at $268,936,000 after purchasing an additional 298,540 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Quanta Services by 1,494.0% during the third quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after buying an additional 285,047 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.5 %

Shares of NYSE PWR traded up $6.88 during mid-day trading on Friday, reaching $283.43. The company had a trading volume of 1,165,810 shares, compared to its average volume of 1,016,823. The stock has a market capitalization of $41.49 billion, a PE ratio of 54.93 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $285.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The stock’s 50 day moving average is $259.21 and its 200-day moving average is $224.98.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Activity

In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Margaret B. Shannon sold 8,515 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the sale, the director now owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PWR shares. Citigroup lifted their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. B. Riley upped their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Evercore ISI upped their price target on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.00.

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.