Nissay Asset Management Corp Japan ADV Raises Stake in Quanta Services, Inc. (NYSE:PWR)

Nissay Asset Management Corp Japan ADV boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 36.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,043 shares of the construction company’s stock after purchasing an additional 6,417 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Quanta Services were worth $7,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Geneos Wealth Management Inc. grew its position in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after buying an additional 29 shares in the last quarter. Commonwealth Financial Services LLC increased its holdings in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after buying an additional 29 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in shares of Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after buying an additional 32 shares during the period. Finally, Larson Financial Group LLC grew its position in Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock worth $144,000 after purchasing an additional 33 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PWR. TD Cowen upped their target price on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. B. Riley upped their price target on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Argus set a $375.00 price target on Quanta Services in a research report on Monday, May 5th. Finally, Stifel Nicolaus upped their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $344.35.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $340.24 on Friday. The stock has a market capitalization of $50.45 billion, a price-to-earnings ratio of 56.42, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The firm’s 50-day moving average price is $279.25 and its two-hundred day moving average price is $301.53.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Quanta Services Company Profile

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.