Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Grove Bank & Trust lifted its stake in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Quanta Services by 1,730.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after purchasing an additional 173 shares in the last quarter. Valley National Advisers Inc. purchased a new stake in Quanta Services in the 4th quarter worth $41,000. Finally, NBC Securities Inc. bought a new stake in shares of Quanta Services in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

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

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion for 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%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company posted $1.54 earnings per share. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

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

Insider Transactions at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PWR. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Truist Financial began coverage on shares of Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Evercore ISI began coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

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.