Daiwa Securities Group Inc. Acquires 18,266 Shares of Quanta Services, Inc. (NYSE:PWR)

Daiwa Securities Group Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 42.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,519 shares of the construction company’s stock after purchasing an additional 18,266 shares during the period. Daiwa Securities Group Inc.’s holdings in Quanta Services were worth $13,276,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. raised its stake in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the period. Central Bank & Trust Co. raised its stake in Quanta Services by 2.1% in the 4th quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock valued at $700,000 after acquiring an additional 66 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Quanta Services by 0.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock valued at $2,340,000 after acquiring an additional 67 shares during the period. Czech National Bank raised its stake in Quanta Services by 0.3% in the 4th quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after acquiring an additional 67 shares during the period. Finally, Gray Wealth Management Inc. raised its stake in Quanta Services by 6.2% in the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock valued at $218,000 after acquiring an additional 68 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last ninety days. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research reports. KeyCorp initiated coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Evercore ISI initiated coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Citigroup boosted their price objective on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Truist Financial initiated coverage on Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Finally, TD Cowen lifted their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services Stock Up 0.5 %

PWR stock opened at $247.16 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $241.27 and its 200 day moving average is $208.05. The stock has a market cap of $36.18 billion, a price-to-earnings ratio of 49.10 and a beta of 1.11. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $1.54 earnings per share. The business’s quarterly revenue was up 31.0% on a year-over-year basis. Sell-side analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is currently 7.19%.

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.