Sumitomo Mitsui DS Asset Management Company Ltd Has $9.87 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.2% during the fourth quarter, Holdings Channel reports. The fund owned 31,237 shares of the construction company’s stock after buying an additional 1,813 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Quanta Services were worth $9,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. boosted its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the third quarter valued at approximately $31,000. Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.4 %

Quanta Services stock opened at $312.44 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $46.12 billion, a P/E ratio of 57.65, a P/E/G ratio of 1.54 and a beta of 1.05. The firm has a 50 day moving average price of $325.27 and a 200-day moving average price of $302.28. Quanta Services, Inc. has a twelve month low of $205.82 and a twelve month high of $365.88.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Analysts Set New Price Targets

PWR has been the subject of several research reports. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Stifel Nicolaus raised their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, BMO Capital Markets began coverage on Quanta Services in a report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $330.50.

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.