Nomura Asset Management Co. Ltd. Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Nomura Asset Management Co. Ltd. lowered its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,665 shares of the construction company's stock after selling 21,129 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.10% of Quanta Services worth $43,132,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PWR. Resurgent Financial Advisors LLC grew its holdings in Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock valued at $1,423,000 after purchasing an additional 33 shares during the last quarter. Tower Wealth Partners Inc. boosted its position in shares of Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company's stock worth $335,000 after buying an additional 34 shares in the last quarter. Huntington National Bank grew its stake in Quanta Services by 2.9% in the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company's stock valued at $370,000 after acquiring an additional 35 shares during the last quarter. Terra Nova Asset Management LLC increased its holdings in Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock valued at $3,810,000 after acquiring an additional 38 shares in the last quarter. Finally, Greenleaf Trust lifted its holdings in shares of Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock valued at $940,000 after purchasing an additional 38 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.7 %

PWR stock traded down $2.19 during trading on Tuesday, reaching $319.79. 923,698 shares of the stock traded hands, compared to its average volume of 895,551. The firm has a market capitalization of $47.20 billion, a PE ratio of 59.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business's 50 day moving average price is $320.62 and its 200-day moving average price is $286.05. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company's revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.13%. Quanta Services's dividend payout ratio (DPR) is 7.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective for the company. Citigroup boosted their price target on Quanta Services from $348.00 to $394.00 and gave the stock a "buy" rating in a report on Monday. Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday. They set an "outperform" rating and a $355.00 price objective on the stock. Truist Financial boosted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.69.

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.