Sumitomo Mitsui Trust Group Inc. Has $103.65 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 347,643 shares of the construction company's stock after purchasing an additional 2,014 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Quanta Services worth $103,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Quanta Services by 24.2% during the first quarter. Empowered Funds LLC now owns 1,835 shares of the construction company's stock worth $477,000 after purchasing an additional 357 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Quanta Services by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 66,231 shares of the construction company's stock valued at $17,205,000 after purchasing an additional 2,767 shares in the last quarter. US Bancorp DE grew its position in shares of Quanta Services by 2.0% in the 1st quarter. US Bancorp DE now owns 13,603 shares of the construction company's stock valued at $3,534,000 after purchasing an additional 270 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Quanta Services by 17.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,663 shares of the construction company's stock worth $44,598,000 after purchasing an additional 25,311 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Quanta Services by 337.8% in the first quarter. First Eagle Investment Management LLC now owns 2,233 shares of the construction company's stock valued at $580,000 after buying an additional 1,723 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PWR shares. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price objective on the stock. Northland Securities restated an "outperform" rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $2.20 during trading on Thursday, reaching $324.68. 256,619 shares of the stock were exchanged, compared to its average volume of 894,000. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00. The stock has a 50-day moving average price of $298.84 and a 200-day moving average price of $276.79. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market cap of $47.93 billion, a PE ratio of 60.36 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's payout ratio is 6.64%.

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.