Daiwa Securities Group Inc. Buys 18,266 Shares of Quanta Services, Inc. (NYSE:PWR)

Daiwa Securities Group Inc. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 42.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 61,519 shares of the construction company’s stock after purchasing an additional 18,266 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Quanta Services were worth $13,276,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. ICA Group Wealth Management LLC bought a new position in Quanta Services in the 4th quarter valued at $26,000. Coppell Advisory Solutions Corp. bought a new position in Quanta Services in the 4th quarter valued at $28,000. Perkins Coie Trust Co bought a new position in Quanta Services in the 3rd quarter valued at $30,000. Grove Bank & Trust grew its position in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after acquiring an additional 68 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Quanta Services by 1,730.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.5 %

Shares of NYSE PWR opened at $247.16 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market capitalization of $36.18 billion, a P/E ratio of 49.10 and a beta of 1.11. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The business has a fifty day moving average price of $241.27 and a 200 day moving average price of $208.05.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 EPS. Equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. DA Davidson upped their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Evercore ISI started coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price for the company. Stifel Nicolaus upped their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group upped their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, TD Cowen upped their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $239.54.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by insiders.

Quanta Services 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.