Taikang Asset Management Hong Kong Co Ltd Has $2.94 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Taikang Asset Management Hong Kong Co Ltd cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 50.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,310 shares of the construction company’s stock after selling 9,310 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Quanta Services were worth $2,942,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Webster Bank N. A. boosted its position in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $27,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the third quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the third quarter worth $31,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus reduced their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Price Performance

Shares of NYSE PWR opened at $279.21 on Tuesday. The business has a fifty day moving average price of $288.60 and a two-hundred day moving average price of $304.81. The stock has a market capitalization of $41.38 billion, a PE ratio of 46.30, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last posted 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. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

Quanta Services 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.