Norinchukin Bank The Acquires 233 Shares of Quanta Services, Inc. (NYSE:PWR)

Norinchukin Bank The increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,872 shares of the construction company’s stock after buying an additional 233 shares during the quarter. Norinchukin Bank The’s holdings in Quanta Services were worth $1,856,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Quanta Services during the fourth quarter valued at approximately $544,937,000. Capital World Investors increased its stake in shares of Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Quanta Services during the 4th quarter worth $203,068,000. First Trust Advisors LP lifted its position in shares of Quanta Services by 54.1% during the 4th quarter. First Trust Advisors LP now owns 725,453 shares of the construction company’s stock worth $229,279,000 after buying an additional 254,640 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Quanta Services in the fourth quarter valued at about $53,949,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PWR. Truist Financial lowered their target price on Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Roth Mkm started coverage on Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $319.25.

Quanta Services Price Performance

Quanta Services stock opened at $267.47 on Monday. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of 44.36, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock’s 50 day moving average price is $263.56 and its two-hundred day moving average price is $301.62.

Quanta Services (NYSE:PWR) last issued its earnings results 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is currently 6.63%.

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.