Nordea Investment Management AB Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

Nordea Investment Management AB reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 816,517 shares of the construction company’s stock after selling 31,619 shares during the period. Nordea Investment Management AB’s holdings in Quanta Services were worth $258,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PWR. Resurgent Financial Advisors LLC increased its holdings in shares of Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. Tower Wealth Partners Inc. increased its holdings in shares of Quanta Services by 3.1% during the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock valued at $335,000 after acquiring an additional 34 shares in the last quarter. Huntington National Bank lifted its stake in Quanta Services by 2.9% during the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after acquiring an additional 35 shares during the period. Terra Nova Asset Management LLC grew its position in Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after purchasing an additional 38 shares during the period. Finally, Greenleaf Trust lifted its holdings in shares of Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after buying an additional 38 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $326.52 on Monday. The company’s 50 day moving average is $327.41 and its two-hundred day moving average is $292.63. The firm has a market cap of $48.20 billion, a PE ratio of 60.24 and a beta of 1.06. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the business posted $2.08 earnings per share. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. On average, research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PWR shares. Northland Securities restated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $324.25.

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.