Nomura Asset Management Co. Ltd. Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Nomura Asset Management Co. Ltd. raised its position in Quanta Services, Inc. (NYSE:PWR) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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. owned approximately 0.10% of Quanta Services worth $31,715,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PWR. Advisory Services Network LLC grew its stake in Quanta Services by 86.7% during the fourth quarter. Advisory Services Network LLC now owns 69,958 shares of the construction company’s stock valued at $15,097,000 after acquiring an additional 32,491 shares in the last quarter. Team Hewins LLC bought a new stake in shares of Quanta Services in the fourth quarter worth about $209,000. SageView Advisory Group LLC purchased a new stake in shares of Quanta Services in the fourth quarter worth about $2,183,000. FineMark National Bank & Trust boosted its stake in Quanta Services by 0.4% during the fourth quarter. FineMark National Bank & Trust now owns 77,922 shares of the construction company’s stock valued at $16,816,000 after buying an additional 341 shares during the last quarter. Finally, Commerce Bank grew its holdings in Quanta Services by 5.5% during the 4th quarter. Commerce Bank now owns 4,477 shares of the construction company’s stock valued at $966,000 after buying an additional 232 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of several research reports. Truist Financial reiterated a “buy” rating and set a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. 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 report on Monday, February 26th. DA Davidson lifted their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Evercore ISI upped their target price on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, Citigroup lifted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $262.00.

Quanta Services Stock Up 2.5 %

Shares of Quanta Services stock traded up $6.88 during trading on Friday, reaching $283.43. The company’s stock had a trading volume of 1,165,810 shares, compared to its average volume of 1,016,823. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a market cap of $41.49 billion, a price-to-earnings ratio of 54.93 and a beta of 1.10. The company has a 50-day simple moving average of $259.21 and a two-hundred day simple moving average of $224.98. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $285.97.

Quanta Services (NYSE:PWR) last released its earnings results 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 company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be issued 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 (DPR) is currently 6.98%.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 $8,172,394.96. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 over the last three months. Company insiders own 1.10% of the company’s stock.

About Quanta Services

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.