Tokio Marine Asset Management Co. Ltd. Acquires 152 Shares of Quanta Services, Inc. (NYSE:PWR)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,693 shares of the construction company’s stock after acquiring an additional 152 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Quanta Services were worth $1,399,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Metis Global Partners LLC raised its position in shares of Quanta Services by 3.0% in the 3rd quarter. Metis Global Partners LLC now owns 5,871 shares of the construction company’s stock valued at $1,750,000 after purchasing an additional 173 shares during the last quarter. KBC Group NV increased its position in shares of Quanta Services by 13.4% in the 3rd quarter. KBC Group NV now owns 13,094 shares of the construction company’s stock valued at $3,904,000 after acquiring an additional 1,547 shares during the period. Huntington National Bank grew its stake in Quanta Services by 2.9% during the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after purchasing an additional 35 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Quanta Services by 67,200.0% during the third quarter. Plato Investment Management Ltd now owns 3,365 shares of the construction company’s stock worth $1,002,000 after purchasing an additional 3,360 shares during the period. Finally, Cable Hill Partners LLC purchased a new stake in Quanta Services in the third quarter valued at approximately $227,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Karl W. Studer sold 23,357 shares of the business’s 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 sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $323.33 on Friday. The company 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 fifty day simple moving average of $301.80 and a two-hundred day simple moving average of $277.54. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $335.00. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

PWR has been the topic of a number of research reports. Northland Securities reiterated an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Finally, UBS Group upped their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $314.27.

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.