Mufg Securities Americas Inc. Invests $689,000 in Quanta Services, Inc. (NYSE:PWR)

Mufg Securities Americas Inc. bought a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,179 shares of the construction company’s stock, valued at approximately $689,000.

A number of other institutional investors have also made changes to their positions in PWR. Norges Bank bought a new position in shares of Quanta Services in the 4th quarter worth about $544,937,000. Capital World Investors raised its position in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $203,068,000. Bank of America Corp DE boosted its position in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after purchasing an additional 506,722 shares during the period. Finally, Voya Investment Management LLC grew its stake in Quanta Services by 210.8% during the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock worth $174,016,000 after buying an additional 373,429 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PWR has been the topic of a number of recent research reports. TD Cowen raised their target price on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research report on Friday, May 2nd. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price target on Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Argus set a $375.00 price objective on Quanta Services in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $344.35.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $342.89 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market capitalization of $50.84 billion, a PE ratio of 56.86, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The stock has a fifty day moving average of $277.17 and a 200-day moving average of $301.34. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Quanta Services’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is currently 6.45%.

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.