Sumitomo Mitsui Trust Holdings Inc. Sells 7,645 Shares of Quanta Services, Inc. (NYSE:PWR)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 377,955 shares of the construction company’s stock after selling 7,645 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Quanta Services were worth $81,563,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Gradient Investments LLC boosted its stake in Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after buying an additional 53,535 shares during the period. Saxon Interests Inc. purchased a new position in Quanta Services during the fourth quarter worth $1,352,000. Nordea Investment Management AB boosted its stake in Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after buying an additional 901,548 shares during the period. Chicago Capital LLC purchased a new position in Quanta Services during the fourth quarter worth $6,834,000. Finally, Bleakley Financial Group LLC boosted its stake in Quanta Services by 159.6% during the fourth quarter. Bleakley Financial Group LLC now owns 6,563 shares of the construction company’s stock worth $1,416,000 after buying an additional 4,035 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PWR shares. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. KeyCorp started coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Evercore ISI started coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $239.54.

Insiders Place Their Bets

In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by corporate insiders.

Quanta Services Stock Down 1.1 %

NYSE:PWR opened at $245.97 on Thursday. The firm has a market cap of $36.01 billion, a PE ratio of 49.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The company has a 50-day moving average of $241.27 and a 200 day moving average of $208.05. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio is presently 7.19%.

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.