Nisa Investment Advisors LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Nisa Investment Advisors LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,966 shares of the construction company’s stock after purchasing an additional 360 shares during the period. Nisa Investment Advisors LLC’s holdings in Quanta Services were worth $12,947,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Versor Investments LP bought a new stake in shares of Quanta Services in the 3rd quarter valued at about $406,000. Principal Financial Group Inc. increased its stake in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the period. Asio Capital LLC bought a new stake in Quanta Services in the third quarter valued at approximately $2,715,000. Waverton Investment Management Ltd boosted its stake in shares of Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the period. Finally, Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PWR shares. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus boosted their target price on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $325.06.

Quanta Services Stock Performance

Shares of PWR opened at $354.52 on Friday. 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 market cap of $52.33 billion, a P/E ratio of 65.41 and a beta of 1.06. The business’s 50 day moving average price is $330.71 and its 200-day moving average price is $298.51. Quanta Services, Inc. has a 52 week low of $192.62 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 7.38%.

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.