Meiji Yasuda Asset Management Co Ltd. Has $8.42 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,626 shares of the construction company’s stock after buying an additional 557 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Quanta Services were worth $8,415,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Kestra Private Wealth Services LLC raised its position in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after acquiring an additional 793 shares during the period. Finally, SeaBridge Investment Advisors LLC bought a new position in Quanta Services during the 4th quarter worth $1,754,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 4.1 %

PWR stock opened at $279.21 on Tuesday. The business’s 50-day moving average is $288.60 and its 200 day moving average is $304.81. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PWR. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

About Quanta Services

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.