Meiji Yasuda Asset Management Co Ltd. Lowers Holdings in Quanta Services, Inc. $PWR

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Quanta Services by 4.7%, now owning 25,372 shares worth approximately $6.45 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Quanta Services, with an average target price around $397.18.
• Quanta Services recently announced a quarterly dividend of $0.10 per share, with an anticipated payout on October 10th, representing a 0.1% dividend yield.

Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,372 shares of the construction company's stock after selling 1,254 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Quanta Services were worth $6,449,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SCP Investment LP purchased a new position in shares of Quanta Services during the first quarter valued at about $966,000. Brighton Jones LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at about $298,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC purchased a new position in shares of Quanta Services during the first quarter valued at about $213,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 1.8%

Shares of NYSE:PWR traded down $7.14 during trading hours on Friday, hitting $382.50. 833,428 shares of the company's stock traded hands, compared to its average volume of 807,221. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The business has a fifty day moving average price of $387.66 and a 200-day moving average price of $335.35. The firm has a market capitalization of $56.99 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's payout ratio is presently 6.19%.

Analysts Set New Price Targets

Several research analysts recently commented on PWR shares. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Citigroup lifted their price target on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Roth Capital reiterated a "buy" rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Finally, Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $397.18.

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.