Mizuho Securities USA LLC Sells 1,735 Shares of Quanta Services, Inc. (NYSE:PWR)

Mizuho Securities USA LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 15.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,554 shares of the construction company’s stock after selling 1,735 shares during the period. Mizuho Securities USA LLC’s holdings in Quanta Services were worth $2,849,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth approximately $25,000. Cambridge Trust Co. bought a new stake in Quanta Services in the 1st quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services in the 2nd quarter valued at $33,000. Quest Partners LLC bought a new position in shares of Quanta Services during the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Quanta Services in the second quarter valued at about $38,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.6 %

NYSE PWR opened at $341.90 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $343.70. The stock has a market capitalization of $50.47 billion, a P/E ratio of 63.08 and a beta of 1.01. The stock has a fifty day moving average of $307.80 and a 200-day moving average of $279.67.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the business posted $2.08 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 6.64%.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent research reports. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial boosted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus increased their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

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.