Meeder Advisory Services Inc. Has $920,000 Position in Quanta Services, Inc. (NYSE:PWR)

Meeder Advisory Services Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 27.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,085 shares of the construction company’s stock after buying an additional 667 shares during the period. Meeder Advisory Services Inc.’s holdings in Quanta Services were worth $920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $25,000. Cambridge Trust Co. bought a new stake in shares of Quanta Services during the first quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services in the second quarter valued at approximately $33,000. Quest Partners LLC bought a new position in shares of Quanta Services during the second quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Quanta Services during the 2nd quarter worth approximately $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.7 %

PWR stock opened at $330.71 on Wednesday. The firm has a 50-day moving average price of $304.98 and a 200-day moving average price of $278.87. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $48.82 billion, a P/E ratio of 61.02 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on PWR shares. Truist Financial upped their price objective on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Citigroup increased their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.