Securian Asset Management Inc. Decreases Holdings in Quanta Services, Inc. (NYSE:PWR)

Securian Asset Management Inc. reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 1.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 7,832 shares of the construction company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Quanta Services were worth $1,991,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $544,937,000. Capital World Investors raised its holdings in shares of Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the period. GAMMA Investing LLC raised its holdings in shares of Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after purchasing an additional 811,797 shares during the period. Bank of America Corp DE raised its holdings in shares of Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after purchasing an additional 506,722 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of Quanta Services by 210.8% in the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock worth $174,016,000 after purchasing an additional 373,429 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. DA Davidson lifted their price target on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Evercore ISI lifted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research note on Friday, May 2nd. Finally, Argus set a $375.00 price objective on shares of Quanta Services in a research note on Monday, May 5th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $353.35.

Quanta Services Trading Down 0.1%

Shares of PWR stock opened at $386.66 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $390.10. The company has a market capitalization of $57.33 billion, a PE ratio of 62.36, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The business’s fifty day moving average is $357.88 and its 200 day moving average is $311.21.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter last year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. Quanta Services’s payout ratio is 6.45%.

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.