Nisa Investment Advisors LLC Decreases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Nisa Investment Advisors LLC decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,387 shares of the construction company's stock after selling 6,579 shares during the quarter. Nisa Investment Advisors LLC's holdings in Quanta Services were worth $8,740,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Quanta Services during the fourth quarter worth approximately $25,000. Quarry LP purchased a new position in Quanta Services in the 4th quarter valued at $26,000. Rakuten Securities Inc. boosted its position in shares of Quanta Services by 1,027.3% during the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after purchasing an additional 113 shares in the last quarter. OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services during the 1st quarter worth $42,000. Finally, Sound Income Strategies LLC boosted its position in shares of Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup decreased their price objective on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. DA Davidson boosted their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. TD Cowen boosted their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $353.35.

Quanta Services Trading Up 0.9%

Shares of NYSE PWR traded up $3.54 on Friday, reaching $383.63. 906,737 shares of the company traded hands, compared to its average volume of 1,060,505. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $388.00. The company has a 50 day moving average of $355.23 and a 200 day moving average of $310.51. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $56.88 billion, a PE ratio of 61.88, a P/E/G ratio of 2.96 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the previous year, the business earned $1.41 EPS. The company's revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

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.