Tokio Marine Asset Management Co. Ltd. Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

Tokio Marine Asset Management Co. Ltd. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,877 shares of the construction company’s stock after selling 239 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Quanta Services were worth $1,052,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PWR. Carnegie Capital Asset Management LLC increased its holdings in shares of Quanta Services by 24.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after buying an additional 325 shares in the last quarter. Gradient Investments LLC raised its position in shares of Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after purchasing an additional 53,535 shares during the period. Saxon Interests Inc. purchased a new position in Quanta Services in the 4th quarter worth approximately $1,352,000. Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $4,085,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PWR. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Citigroup increased their target price on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial initiated coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Stifel Nicolaus raised their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, KeyCorp began coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.67.

Quanta Services Stock Performance

PWR traded up $3.75 during trading on Friday, reaching $258.94. 155,205 shares of the company were exchanged, compared to its average volume of 910,303. The firm has a 50 day moving average of $245.90 and a 200 day moving average of $211.02. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The stock has a market cap of $37.90 billion, a P/E ratio of 50.94 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 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 company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $1.54 EPS. The company’s quarterly revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

About Quanta Services

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.