Nomura Asset Management Co. Ltd. Has $44.01 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Nomura Asset Management Co. Ltd. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,263 shares of the construction company’s stock after selling 5,402 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.09% of Quanta Services worth $44,014,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after acquiring an additional 161,277 shares in the last quarter. State Street Corp grew its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the period. Geode Capital Management LLC increased its stake in Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. Norges Bank acquired a new position in Quanta Services during the fourth quarter worth $544,937,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after buying an additional 43,715 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.3 %

Quanta Services stock opened at $254.17 on Friday. The stock has a market cap of $37.67 billion, a P/E ratio of 42.15, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm’s fifty day moving average price is $283.07 and its 200-day moving average price is $304.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is currently 6.63%.

Analyst Ratings Changes

A number of research firms recently weighed in on PWR. Citigroup dropped their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.79.

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.