FUKOKU MUTUAL LIFE INSURANCE Co Sells 450 Shares of Quanta Services, Inc. (NYSE:PWR)

FUKOKU MUTUAL LIFE INSURANCE Co trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,496 shares of the construction company’s stock after selling 450 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Quanta Services were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PWR. Alkeon Capital Management LLC raised its position in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Quanta Services during the 4th quarter worth approximately $46,364,000. Public Sector Pension Investment Board lifted its holdings in shares of Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the period. Meitav Investment House Ltd. acquired a new position in shares of Quanta Services during the third quarter worth $27,430,000. Finally, State Street Corp lifted its holdings in shares of Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 1.7 %

Shares of PWR stock opened at $268.86 on Thursday. The company has a market capitalization of $39.84 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a 50-day simple moving average of $311.89 and a two-hundred day simple moving average of $305.73. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PWR. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Company 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.