State of Michigan Retirement System Purchases 200 Shares of Quanta Services, Inc. $PWR

State of Michigan Retirement System raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,248 shares of the construction company’s stock after acquiring an additional 200 shares during the period. State of Michigan Retirement System’s holdings in Quanta Services were worth $15,217,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Old Port Advisors boosted its holdings in Quanta Services by 0.7% during the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after acquiring an additional 26 shares during the period. Ashton Thomas Private Wealth LLC raised its position in shares of Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after buying an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in shares of Quanta Services by 3.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after buying an additional 34 shares during the last quarter. Finally, Eastern Bank raised its position in shares of Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after buying an additional 35 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $450.16 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market capitalization 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 1-year low of $227.08 and a 1-year high of $469.43. The firm’s 50-day moving average price is $408.11 and its two-hundred day moving average price is $375.80.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. The firm 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 company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, 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 was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. 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 dividend payout ratio is currently 5.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PWR shares. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a research report on Monday, July 28th. Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Citigroup increased their price target on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday. Argus set a $540.00 price target on shares of Quanta Services in a research report on Friday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.55.

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.