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Mizuho Securities USA LLC Sells 2,171 Shares of Quanta Services, Inc. (NYSE:PWR)

Quanta Services logo with Construction background

Key Points

  • Mizuho Securities USA LLC reduced its stake in Quanta Services by 15.5% during the first quarter, after selling 2,171 shares, leaving them with 11,819 shares valued at approximately $3,004,000.
  • Quanta Services announced quarterly earnings of $2.48 per share, exceeding analyst estimates, with revenues reaching $6.77 billion, a 21.1% increase year-over-year.
  • The firm recently paid a $0.10 quarterly dividend, resulting in an annualized rate of $0.40, reflecting a dividend yield of 0.1% and a payout ratio of 6.19%.
  • Need better tools to track Quanta Services? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Mizuho Securities USA LLC reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,819 shares of the construction company's stock after selling 2,171 shares during the quarter. Mizuho Securities USA LLC's holdings in Quanta Services were worth $3,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PWR. Brighton Jones LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at about $298,000. Sterling Capital Management LLC raised its holdings in Quanta Services by 44.4% in the fourth quarter. Sterling Capital Management LLC now owns 6,724 shares of the construction company's stock worth $2,125,000 after purchasing an additional 2,068 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in Quanta Services in the fourth quarter worth about $212,000. Advisors Capital Management LLC bought a new position in Quanta Services in the fourth quarter worth about $318,000. Finally, Brogan Financial Inc. bought a new position in Quanta Services in the fourth quarter worth about $234,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 0.3%

Shares of NYSE:PWR opened at $386.05 on Monday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a market capitalization of $57.53 billion, a PE ratio of 59.76, a PEG ratio of 2.30 and a beta of 1.10. The business has a 50 day moving average of $380.24 and a two-hundred day moving average of $320.20. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PWR shares. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Truist Financial boosted their target price on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. UBS Group boosted their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, TD Cowen boosted their price target on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $392.45.

Get Our Latest Analysis on Quanta Services

Quanta Services Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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