Sumitomo Mitsui Trust Group Inc. Acquires 27,644 Shares of Quanta Services, Inc. (NYSE:PWR)

Sumitomo Mitsui Trust Group Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 372,313 shares of the construction company's stock after purchasing an additional 27,644 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Quanta Services worth $94,635,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PWR. Brighton Jones LLC purchased a new position in Quanta Services in the fourth quarter valued at approximately $298,000. SVB Wealth LLC purchased a new position in Quanta Services in the fourth quarter valued at approximately $323,000. Fisher Asset Management LLC lifted its stake in Quanta Services by 40.1% in the fourth quarter. Fisher Asset Management LLC now owns 989 shares of the construction company's stock valued at $313,000 after purchasing an additional 283 shares during the last quarter. US Bancorp DE lifted its stake in Quanta Services by 12.6% in the fourth quarter. US Bancorp DE now owns 17,917 shares of the construction company's stock valued at $5,663,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of Quanta Services by 2.1% during the fourth quarter. Metis Global Partners LLC now owns 5,992 shares of the construction company's stock worth $1,894,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 1.6%

Shares of NYSE:PWR traded down $6.07 on Tuesday, reaching $372.01. 1,428,816 shares of the company traded hands, compared to its average volume of 1,103,847. The business's 50-day simple moving average is $339.24 and its 200 day simple moving average is $307.04. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $382.79. The stock has a market capitalization of $55.15 billion, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 2.94 and a beta of 1.08. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) 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 firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the firm earned $1.41 earnings per share. The company's revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is currently 6.45%.

Analyst Ratings Changes

PWR has been the topic of several recent research reports. Evercore ISI increased their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. B. Riley increased their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. BMO Capital Markets set a $352.00 target price on Quanta Services in a research report on Friday, May 2nd. Finally, Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $349.65.

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.