Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Quanta Services, Inc. $PWR

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Quanta Services, Inc. (NYSE:PWR) by 6.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 281,682 shares of the construction company’s stock after acquiring an additional 17,488 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Quanta Services were worth $106,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services in the first quarter worth approximately $25,000. Copia Wealth Management boosted its stake in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Solstein Capital LLC raised its position in shares of Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Quanta Services in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR opened at $445.32 on Friday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43. The stock’s fifty day moving average is $414.54 and its two-hundred day moving average is $381.42. The company has a market capitalization of $66.40 billion, a P/E ratio of 68.93, a P/E/G ratio of 2.66 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is 5.93%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PWR shares. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Truist Financial increased their price target on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. DA Davidson boosted their price objective on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Finally, Jefferies Financial Group raised their target price on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.64.

Insider Activity at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the transaction, the director owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

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.