Resona Asset Management Co. Ltd. Makes New $14.16 Million Investment in Quanta Services, Inc. (NYSE:PWR)

Resona Asset Management Co. Ltd. bought a new position in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 44,653 shares of the construction company’s stock, valued at approximately $14,160,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the third quarter worth about $31,000. Finally, Sound Income Strategies LLC grew its holdings in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock opened at $239.50 on Monday. The company has a market capitalization of $35.49 billion, a P/E ratio of 39.72, a P/E/G ratio of 1.41 and a beta of 1.04. The company’s 50-day simple moving average is $273.15 and its two-hundred day simple moving average is $304.43. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PWR shares. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. B. Riley reaffirmed a “neutral” rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Company 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.