Sumitomo Mitsui Trust Holdings Inc. Trims Position in Quanta Services, Inc. (NYSE:PWR)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 372,977 shares of the construction company’s stock after selling 4,978 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Quanta Services worth $96,899,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Private Ocean LLC purchased a new position in shares of Quanta Services during the 1st quarter worth $26,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Quanta Services in the 4th quarter worth $34,000. Hazlett Burt & Watson Inc. raised its position in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the period. Valley National Advisers Inc. purchased a new position in shares of Quanta Services in the 4th quarter worth $41,000. Finally, Vestor Capital LLC purchased a new position in shares of Quanta Services in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.7 %

Shares of Quanta Services stock opened at $254.56 on Thursday. The business has a 50-day moving average of $268.78 and a 200-day moving average of $241.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market capitalization of $37.27 billion, a PE ratio of 49.33 and a beta of 1.03. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 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 business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s payout ratio is 6.98%.

Analysts Set New Price Targets

PWR has been the topic of several research reports. Truist Financial reaffirmed a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Argus increased their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. DA Davidson increased their price target on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. The Goldman Sachs Group increased their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Robert W. Baird increased their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.85.

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.