Quanta Services, Inc. (NYSE:PWR) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 816,517 shares of the construction company's stock after selling 31,619 shares during the period. Nordea Investment Management AB owned 0.55% of Quanta Services worth $258,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PWR. Everence Capital Management Inc. grew its stake in Quanta Services by 52.2% during the 4th quarter. Everence Capital Management Inc. now owns 2,040 shares of the construction company's stock valued at $645,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC increased its holdings in Quanta Services by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 3,612 shares of the construction company's stock worth $1,142,000 after buying an additional 463 shares during the period. Versant Capital Management Inc lifted its stake in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after acquiring an additional 45 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after acquiring an additional 11,012 shares during the last quarter. Finally, 1ST Source Bank raised its holdings in shares of Quanta Services by 25.3% during the third quarter. 1ST Source Bank now owns 1,939 shares of the construction company's stock worth $578,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR traded up $1.43 during midday trading on Monday, hitting $327.95. The stock had a trading volume of 863,431 shares, compared to its average volume of 870,341. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $327.70 and a 200-day simple moving average of $293.01. The company has a market capitalization of $48.41 billion, a PE ratio of 60.51 and a beta of 1.06. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19.

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

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services's dividend payout ratio is presently 7.38%.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Northland Securities reaffirmed an "outperform" rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Wolfe Research began coverage on Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Stifel Nicolaus lifted their price target on Quanta Services from $343.00 to $374.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Truist Financial upped their price objective on Quanta Services from $358.00 to $399.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Four investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $324.25.

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.