Mitsubishi UFJ Trust & Banking Corp Has $19.21 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 6.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 73,934 shares of the construction company’s stock after selling 4,894 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Quanta Services were worth $19,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Ocean LLC acquired a new stake in shares of Quanta Services in the first quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services in the first quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its stake in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Quanta Services during the 4th quarter valued at about $34,000. Finally, Valley National Advisers Inc. bought a new stake in shares of Quanta Services during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 2.3 %

Shares of PWR stock traded down $6.15 during trading hours on Friday, reaching $258.56. The company had a trading volume of 1,122,240 shares, compared to its average volume of 1,010,109. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The business has a fifty day simple moving average of $267.66 and a 200-day simple moving average of $245.16. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 50.11 and a beta of 1.03.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. On average, research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research analyst reports. The Goldman Sachs Group upped their target price on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Argus upped their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Truist Financial restated a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Evercore ISI upped their target price on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, Robert W. Baird increased their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.33.

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.