Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,164 shares of the construction company’s stock after purchasing an additional 15,403 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Quanta Services were worth $76,786,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC raised its stake in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Quanta Services by 5.6% during 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 in the last quarter. Synovus Financial Corp raised its position in 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 acquiring an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after purchasing an additional 793 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $1,754,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 2.4 %

NYSE PWR opened at $254.47 on Friday. The firm has a market capitalization of $37.71 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company’s 50 day moving average price is $284.73 and its 200 day moving average price is $304.34.

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

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services’s dividend payout ratio (DPR) is currently 6.63%.

Analysts Set New Price Targets

PWR has been the topic of a number of analyst reports. B. Riley reiterated a “neutral” rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.79.

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.