Nordea Investment Management AB Sells 31,619 Shares of Quanta Services, Inc. (NYSE:PWR)

Nordea Investment Management AB cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 816,517 shares of the construction company’s stock after selling 31,619 shares during the period. Nordea Investment Management AB owned approximately 0.55% of Quanta Services worth $258,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in shares of Quanta Services by 94.5% during the 2nd quarter. Larson Financial Group LLC now owns 605 shares of the construction company’s stock worth $154,000 after buying an additional 294 shares during the period. TD Asset Management Inc increased its stake in Quanta Services by 2.4% in the second quarter. TD Asset Management Inc now owns 116,172 shares of the construction company’s stock valued at $29,518,000 after purchasing an additional 2,721 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Quanta Services by 0.6% during the second quarter. Arizona State Retirement System now owns 40,211 shares of the construction company’s stock valued at $10,217,000 after purchasing an additional 251 shares during the period. Private Advisor Group LLC boosted its position in shares of Quanta Services by 14.0% during the 2nd quarter. Private Advisor Group LLC now owns 9,791 shares of the construction company’s stock worth $2,488,000 after purchasing an additional 1,202 shares in the last quarter. Finally, Advisor OS LLC grew its stake in shares of Quanta Services by 185.2% in the 2nd quarter. Advisor OS LLC now owns 2,487 shares of the construction company’s stock valued at $632,000 after buying an additional 1,615 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 3.5 %

Shares of PWR stock opened at $326.52 on Monday. The business’s fifty day moving average is $327.41 and its 200 day moving average is $292.63. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The company has a market capitalization of $48.20 billion, a PE ratio of 60.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the company posted $2.08 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PWR. UBS Group increased their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus upped their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. 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 report on Friday, November 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $324.25.

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.