Meeder Advisory Services Inc. Acquires 667 Shares of Quanta Services, Inc. (NYSE:PWR)

Meeder Advisory Services Inc. lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 27.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,085 shares of the construction company’s stock after purchasing an additional 667 shares during the period. Meeder Advisory Services Inc.’s holdings in Quanta Services were worth $920,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PWR. UniSuper Management Pty Ltd boosted its holdings in Quanta Services by 300.7% during the first quarter. UniSuper Management Pty Ltd now owns 5,742 shares of the construction company’s stock worth $1,492,000 after buying an additional 4,309 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Quanta Services during the 1st quarter worth approximately $348,000. EntryPoint Capital LLC acquired a new position in Quanta Services during the first quarter valued at approximately $25,000. Pinnbrook Capital Management LP bought a new stake in Quanta Services in the first quarter valued at approximately $2,349,000. Finally, Toronto Dominion Bank raised its holdings in Quanta Services by 31.8% in the first quarter. Toronto Dominion Bank now owns 89,871 shares of the construction company’s stock worth $23,348,000 after purchasing an additional 21,671 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PWR. Stifel Nicolaus boosted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Truist Financial increased their target price on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Performance

PWR opened at $330.71 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The business’s 50-day simple moving average is $304.98 and its 200 day simple moving average is $278.87. The firm has a market capitalization of $48.82 billion, a PE ratio of 61.02 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $335.00.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The business’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is presently 6.64%.

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.