Strs Ohio Acquires New Stake in Quanta Services, Inc. $PWR

Strs Ohio acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,050 shares of the construction company’s stock, valued at approximately $17,043,000.

A number of other hedge funds also recently bought and sold shares of PWR. Nuveen LLC purchased a new stake in Quanta Services during the first quarter valued at $404,288,000. GAMMA Investing LLC increased its position in Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after buying an additional 811,797 shares in the last quarter. Amundi increased its position in 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 buying an additional 788,079 shares in the last quarter. Jennison Associates LLC increased its position in Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after buying an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in 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 buying an additional 407,878 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Roth Capital restated a “buy” rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. BMO Capital Markets cut Quanta Services from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Citigroup upped their price objective 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 Capmk lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Finally, UBS Group upped their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $397.18.

Quanta Services Stock Performance

NYSE PWR opened at $382.50 on Friday. The stock has a market capitalization of $57.00 billion, a PE ratio of 59.21, a P/E/G ratio of 2.31 and a beta of 1.01. The business has a 50 day simple moving average of $387.66 and a two-hundred day simple moving average of $334.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

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.