Meeder Asset Management Inc. Has $88,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Meeder Asset Management Inc. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 294 shares of the construction company’s stock after selling 61 shares during the quarter. Meeder Asset Management Inc.’s holdings in Quanta Services were worth $88,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Electron Capital Partners LLC increased its position in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after acquiring an additional 2,092,519 shares during the period. Swedbank AB bought a new position in Quanta Services during the first quarter worth $227,218,000. American Century Companies Inc. increased its position in Quanta Services by 1,445.3% during the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after acquiring an additional 369,581 shares during the period. Massachusetts Financial Services Co. MA increased its position in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after acquiring an additional 186,306 shares during the period. Finally, National Bank of Canada FI increased its holdings in Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock valued at $53,455,000 after buying an additional 161,574 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.5 %

NYSE PWR opened at $332.36 on Thursday. The company has a market cap of $49.06 billion, a price-to-earnings ratio of 61.32 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $335.00. The business has a 50 day moving average price of $306.37 and a 200-day moving average price of $279.24. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PWR shares. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Northland Securities reissued an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.