Mitsubishi UFJ Trust & Banking Corp Acquires 4,815 Shares of Quanta Services, Inc. (NYSE:PWR)

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,782 shares of the construction company’s stock after acquiring an additional 4,815 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Quanta Services were worth $23,319,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Webster Bank N. A. lifted its holdings in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in Quanta Services during the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the 3rd quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the third quarter valued at about $31,000. Finally, Sound Income Strategies LLC lifted its position in shares of Quanta Services by 700.0% during the fourth 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 own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several analyst reports. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Stifel Nicolaus dropped their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Stock Performance

NYSE:PWR opened at $254.47 on Friday. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The business’s fifty day moving average is $284.73 and its 200 day moving average is $304.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a market cap of $37.71 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 1.41 and a beta of 1.10.

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

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. 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%.

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.