Meeder Asset Management Inc. Decreases Holdings in Quanta Services, Inc. (NYSE:PWR)

Meeder Asset Management Inc. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 71.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83 shares of the construction company’s stock after selling 211 shares during the quarter. Meeder Asset Management Inc.’s holdings in Quanta Services were worth $26,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $544,937,000. Raymond James Financial Inc. purchased a new stake in Quanta Services in the fourth quarter worth $203,068,000. Proficio Capital Partners LLC purchased a new position in shares of Quanta Services during the 4th quarter valued at $53,949,000. Vanguard Group Inc. grew its stake in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after acquiring an additional 161,277 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Quanta Services in the 4th quarter worth about $46,364,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PWR. Citigroup dropped their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $264.62 on Thursday. The firm has a market capitalization of $39.22 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The business’s 50-day moving average price is $277.57 and its 200-day moving average price is $304.58. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is currently 6.63%.

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.