Mizuho Securities USA LLC Has $2.85 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Mizuho Securities USA LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,554 shares of the construction company’s stock after selling 1,735 shares during the period. Mizuho Securities USA LLC’s holdings in Quanta Services were worth $2,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PWR. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the 1st quarter valued at about $25,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new position in Quanta Services in the second quarter valued at approximately $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the second quarter valued at approximately $35,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter worth $41,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of research analyst reports. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. UBS Group increased their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Up 0.6 %

Shares of PWR stock opened at $341.90 on Friday. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $343.70. The stock has a market cap of $50.47 billion, a price-to-earnings ratio of 63.08 and a beta of 1.01. The firm’s 50-day moving average is $307.80 and its 200-day moving average is $279.67. 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 announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

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

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.