Meridian Management Co. Has $3.99 Million Position in Quanta Services, Inc. $PWR

Meridian Management Co. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,827 shares of the construction company’s stock after selling 799 shares during the period. Meridian Management Co.’s holdings in Quanta Services were worth $3,991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $298,000. DAVENPORT & Co LLC grew its holdings in Quanta Services by 2.9% during the 1st quarter. DAVENPORT & Co LLC now owns 9,719 shares of the construction company’s stock worth $2,470,000 after acquiring an additional 272 shares during the period. Rossby Financial LCC acquired a new stake in Quanta Services during the 1st quarter worth $53,000. Novem Group acquired a new stake in Quanta Services during the 1st quarter worth $218,000. Finally, Teacher Retirement System of Texas grew its holdings in Quanta Services by 1,464.7% during the 1st quarter. Teacher Retirement System of Texas now owns 21,577 shares of the construction company’s stock worth $5,484,000 after acquiring an additional 20,198 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of analyst reports. Seaport Res Ptn raised shares of Quanta Services to a “hold” rating in a report on Thursday, July 10th. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price for the company. in a report on Monday, July 28th. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Jefferies Financial Group raised shares of Quanta Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $398.00 to $469.00 in a research report on Wednesday, September 24th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.55.

Quanta Services Trading Down 0.8%

Shares of NYSE PWR opened at $450.16 on Friday. The company’s fifty day moving average is $408.11 and its 200-day moving average is $375.05. The stock has a market cap of $67.08 billion, a price-to-earnings ratio of 69.68, a P/E/G ratio of 2.66 and a beta of 1.04. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $469.43. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is currently 5.93%.

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.