Nomura Holdings Inc. Buys Shares of 2,924 Quanta Services, Inc. (NYSE:PWR)

Nomura Holdings Inc. bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,924 shares of the construction company’s stock, valued at approximately $631,000.

Other institutional investors also recently modified their holdings of the company. Kestra Advisory Services LLC lifted its stake in shares of Quanta Services by 4.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,652 shares of the construction company’s stock valued at $1,431,000 after purchasing an additional 352 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Quanta Services by 33.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 156,338 shares of the construction company’s stock valued at $29,246,000 after purchasing an additional 39,610 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Quanta Services by 5.3% in the 3rd quarter. Nordea Investment Management AB now owns 10,865 shares of the construction company’s stock valued at $2,051,000 after purchasing an additional 543 shares during the last quarter. Rathbones Group PLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at $441,000. Finally, LPL Financial LLC lifted its stake in shares of Quanta Services by 16.4% in the 3rd quarter. LPL Financial LLC now owns 188,085 shares of the construction company’s stock valued at $35,185,000 after purchasing an additional 26,433 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of several analyst reports. Evercore ISI lifted their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Truist Financial restated a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. The Goldman Sachs Group upped their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Argus upped their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Stifel Nicolaus upped their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.85.

Quanta Services Stock Up 0.0 %

Shares of PWR opened at $274.00 on Friday. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a market capitalization of $40.11 billion, a P/E ratio of 53.10 and a beta of 1.05. The company has a 50-day simple moving average of $266.75 and a 200-day simple moving average of $238.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.96 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

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.