Nomura Asset Management Co. Ltd. Sells 21,129 Shares of Quanta Services, Inc. (NYSE:PWR)

Nomura Asset Management Co. Ltd. lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,665 shares of the construction company’s stock after selling 21,129 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Quanta Services were worth $43,132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the third quarter valued at about $31,000. Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services in the second quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services during the 2nd quarter valued at approximately $35,000. MidAtlantic Capital Management Inc. bought a new position in Quanta Services in the 3rd quarter worth approximately $41,000. Finally, Eastern Bank purchased a new position in Quanta Services in the 3rd quarter valued at approximately $44,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 3.2 %

NYSE PWR opened at $321.79 on Tuesday. The stock’s 50-day simple moving average is $320.15 and its two-hundred day simple moving average is $285.79. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. 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 company has a market capitalization of $47.50 billion, a price-to-earnings ratio of 59.37 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its 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 company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 EPS. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Citigroup lifted their target price on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Finally, TD Cowen increased their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $319.69.

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.