IFM Investors Pty Ltd Raises Holdings in Quanta Services, Inc. $PWR

IFM Investors Pty Ltd raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,033 shares of the construction company’s stock after purchasing an additional 1,024 shares during the period. IFM Investors Pty Ltd’s holdings in Quanta Services were worth $7,125,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Nuveen LLC purchased a new position in shares of Quanta Services in the first quarter worth $404,288,000. Northern Trust Corp raised its stake in shares of Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock worth $392,839,000 after purchasing an additional 56,081 shares during the last quarter. Amundi raised its stake in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Quanta Services by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company’s stock worth $361,256,000 after purchasing an additional 82,981 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 4.4%

NYSE:PWR opened at $389.94 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm has a market capitalization of $58.10 billion, a price-to-earnings ratio of 60.36, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The business has a fifty day moving average price of $387.67 and a 200-day moving average price of $332.65.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services’s dividend payout ratio is 6.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup boosted their price target on Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Northland Securities downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target on the stock. in a research note on Wednesday, July 2nd. Sanford C. Bernstein downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a research note on Monday, July 28th. Stifel Nicolaus raised their price target on Quanta Services from $411.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Finally, Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.18.

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.