Elo Mutual Pension Insurance Co Has $4.30 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Elo Mutual Pension Insurance Co boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,596 shares of the construction company’s stock after acquiring an additional 674 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Quanta Services were worth $4,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% in 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 period. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at about $27,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the third quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services in the third quarter valued at about $31,000. Finally, Sound Income Strategies LLC raised its position in shares of 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 during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 2.4 %

PWR opened at $254.47 on Friday. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company’s 50-day moving average is $284.73 and its 200 day moving average is $304.34. The firm has a market capitalization of $37.71 billion, a P/E ratio of 42.20, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for 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%. Research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.63%.

Wall Street Analyst Weigh In

PWR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. B. Riley restated a “neutral” rating and issued a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $326.79.

About Quanta Services

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.