Dai ichi Life Insurance Company Ltd Has $3.89 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Dai ichi Life Insurance Company Ltd trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 23.5% during the third quarter, Holdings Channel reports. The firm owned 13,043 shares of the construction company’s stock after selling 4,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Quanta Services were worth $3,889,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC bought a new position in shares of Quanta Services in the third quarter valued at approximately $268,000. Diversified LLC raised its stake in shares of Quanta Services by 13.4% in the third quarter. Diversified LLC now owns 1,246 shares of the construction company’s stock valued at $371,000 after acquiring an additional 147 shares during the last quarter. DRW Securities LLC bought a new position in shares of Quanta Services in the third quarter valued at approximately $481,000. Fisher Asset Management LLC bought a new position in shares of Quanta Services in the third quarter valued at approximately $211,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Quanta Services by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 67,522 shares of the construction company’s stock valued at $20,132,000 after acquiring an additional 7,010 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PWR shares. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Northland Securities restated an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. B. Riley boosted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, 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 objective for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Price Performance

PWR opened at $346.54 on Wednesday. The company has a fifty day moving average price of $310.67 and a two-hundred day moving average price of $280.88. 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 52 week low of $180.97 and a 52 week high of $350.19. The firm has a market capitalization of $51.15 billion, a PE ratio of 63.94 and a beta of 1.01.

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, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 EPS. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s payout ratio is 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.