Meiji Yasuda Asset Management Co Ltd. Boosts 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, Holdings Channel.com reports. The institutional investor owned 26,626 shares of the construction company’s stock after buying an additional 557 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Quanta Services were worth $8,415,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Webster Bank N. A. grew its stake in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $279.21 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business’s fifty day moving average price is $288.60 and its two-hundred day moving average price is $304.81. The firm has a market capitalization of $41.38 billion, a PE ratio of 46.30, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 6.63%.

Analysts Set New Price Targets

Several brokerages have commented on PWR. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Roth Mkm initiated coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price 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.