Tokio Marine Asset Management Co. Ltd. Grows Stock Position in Quanta Services, Inc. (NYSE:PWR)

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,693 shares of the construction company’s stock after purchasing an additional 152 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Quanta Services were worth $1,399,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Versor Investments LP purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $406,000. Vanguard Group Inc. raised its position in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares during the period. Cetera Investment Advisers increased its holdings in shares of Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after buying an additional 21,003 shares during the period. Finally, Czech National Bank increased its stake in shares of Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after buying an additional 2,264 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PWR shares. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Finally, Truist Financial increased their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Insiders Place Their Bets

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 68.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 0.2 %

PWR opened at $323.33 on Friday. The stock has a market cap of $47.73 billion, a price-to-earnings ratio of 59.65 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $335.00. The firm’s fifty day moving average is $301.80 and its 200 day moving average is $277.54.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the company posted $2.08 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

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.