Sumitomo Mitsui DS Asset Management Company Ltd Purchases 212 Shares of Quanta Services, Inc. (NYSE:PWR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Quanta Services, Inc. (NYSE:PWR) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,723 shares of the construction company’s stock after purchasing an additional 212 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Quanta Services were worth $2,746,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PWR. Nordea Investment Management AB increased its holdings in shares of Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Quanta Services by 1,494.0% in the third quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock worth $56,893,000 after purchasing an additional 285,047 shares during the period. Scout Investments Inc. increased its holdings in shares of Quanta Services by 20.3% in the third quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock worth $162,718,000 after purchasing an additional 155,586 shares during the period. Ceredex Value Advisors LLC bought a new position in shares of Quanta Services in the fourth quarter worth $31,730,000. Finally, Trust Point Inc. bought a new position in Quanta Services in the fourth quarter valued at $28,072,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.6 %

Shares of NYSE:PWR opened at $251.95 on Wednesday. The stock’s 50-day moving average price is $243.37 and its 200-day moving average price is $209.86. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82. The stock has a market capitalization of $36.88 billion, a P/E ratio of 50.29 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Quanta Services 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 completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. TD Cowen increased their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. KeyCorp assumed coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Evercore ISI assumed coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Stifel Nicolaus increased their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.23.

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.