Meiji Yasuda Life Insurance Co Sells 520 Shares of Quanta Services, Inc. (NYSE:PWR)

Meiji Yasuda Life Insurance Co reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,214 shares of the construction company’s stock after selling 520 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Quanta Services were worth $2,087,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Aveo Capital Partners LLC increased its holdings in Quanta Services by 11.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock valued at $283,000 after buying an additional 130 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Quanta Services by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 43,796 shares of the construction company’s stock valued at $9,451,000 after acquiring an additional 952 shares during the period. Norges Bank purchased a new stake in shares of Quanta Services in the 4th quarter worth $335,777,000. Balentine LLC bought a new position in Quanta Services in the 4th quarter worth $201,000. Finally, Wells Fargo & Company MN grew its holdings in Quanta Services by 19.8% during the fourth quarter. Wells Fargo & Company MN now owns 174,907 shares of the construction company’s stock valued at $37,745,000 after purchasing an additional 28,874 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PWR. Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Northland Securities upped their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, TD Cowen raised their price target on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.50.

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Up 0.9 %

Shares of PWR opened at $273.92 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 53.09 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The business’s 50 day simple moving average is $260.93 and its 200-day simple moving average is $260.81.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

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.