Quanta Services, Inc. (NYSE:PWR) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.7% during the 4th quarter, HoldingsChannel reports. The fund owned 4,877 shares of the construction company’s stock after selling 239 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Quanta Services were worth $1,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Grove Bank & Trust increased its position in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares in the last quarter. Valley National Advisers Inc. bought a new position in Quanta Services in the 4th quarter valued at about $41,000. NBC Securities Inc. bought a new position in Quanta Services in the third quarter valued at approximately $36,000. Finally, Planned Solutions Inc. acquired a new stake in Quanta Services in the fourth quarter valued at approximately $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PWR. Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. DA Davidson raised their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Citigroup raised their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $247.67.

Quanta Services Stock Up 1.5 %

PWR stock traded up $3.75 during midday trading on Friday, reaching $258.94. 155,205 shares of the company were exchanged, compared to its average volume of 910,303. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market cap of $37.90 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11. The stock’s 50-day simple moving average is $245.90 and its 200 day simple moving average is $211.02. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company earned $1.54 earnings per share. Quanta Services’s revenue was up 31.0% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s payout ratio is 7.19%.

Insider Activity

In other news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Margaret B. Shannon sold 8,515 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the sale, the director now directly owns 34,063 shares in the company, valued at $8,172,394.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 in the last ninety days. 1.10% of the stock is owned by company insiders.

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.