Taikang Asset Management Hong Kong Co Ltd Has $2.94 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Taikang Asset Management Hong Kong Co Ltd trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,310 shares of the construction company’s stock after selling 9,310 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Quanta Services were worth $2,942,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Raymond James Trust N.A. increased its position in shares of Quanta Services by 25.5% during the 3rd quarter. Raymond James Trust N.A. now owns 4,408 shares of the construction company’s stock worth $1,314,000 after purchasing an additional 897 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Quanta Services by 3.7% during the third quarter. Kingsview Wealth Management LLC now owns 8,618 shares of the construction company’s stock worth $2,569,000 after buying an additional 304 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of Quanta Services by 35.1% in the third quarter. Centaurus Financial Inc. now owns 1,488 shares of the construction company’s stock valued at $444,000 after acquiring an additional 387 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Quanta Services by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 67,522 shares of the construction company’s stock worth $20,132,000 after acquiring an additional 7,010 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new stake in Quanta Services during the 3rd quarter worth approximately $211,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR stock opened at $279.21 on Tuesday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The business’s 50-day moving average price is $288.60 and its two-hundred day moving average price is $304.81. The firm has a market cap of $41.38 billion, a PE ratio of 46.30, a P/E/G ratio of 1.41 and a beta of 1.10. 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 (NYSE:PWR) last posted its 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company 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. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio is 6.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. BMO Capital Markets raised shares of 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 note on Tuesday, February 25th. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Finally, Truist Financial dropped 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 report on Thursday, January 16th. Seven 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.79.

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.