Daiwa Securities Group Inc. Has $20.13 Million Position in Quanta Services, Inc. (NYSE:PWR)

Daiwa Securities Group Inc. boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,522 shares of the construction company’s stock after purchasing an additional 7,010 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Quanta Services were worth $20,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tower Wealth Partners Inc. boosted its stake in Quanta Services by 3.1% in the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock valued at $335,000 after acquiring an additional 34 shares during the last quarter. Huntington National Bank lifted its stake in Quanta Services by 2.9% in the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after purchasing an additional 35 shares during the last quarter. Terra Nova Asset Management LLC grew its holdings in Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock valued at $3,810,000 after purchasing an additional 38 shares during the period. Greenleaf Trust increased its position in Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after buying an additional 38 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Quanta Services by 0.6% in the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock valued at $1,777,000 after buying an additional 39 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

NYSE:PWR opened at $341.92 on Monday. Quanta Services, Inc. has a twelve month low of $180.97 and a twelve month high of $343.70. 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 $50.47 billion, a P/E ratio of 63.08 and a beta of 1.01. The business’s 50-day moving average price is $309.24 and its two-hundred day moving average price is $280.37.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 earnings per share. As a group, equities analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 6.64%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PWR shares. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. B. Riley lifted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Northland Securities restated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.27.

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.