Quanta Services, Inc. $PWR Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.3% in the 2nd quarter, Holdings Channel reports. The firm owned 99,500 shares of the construction company’s stock after buying an additional 10,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in Quanta Services were worth $37,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Old Port Advisors lifted its stake 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 purchasing an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in 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 purchasing an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings 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 acquiring an additional 34 shares during the period. Legacy Capital Wealth Partners LLC raised its holdings in shares of Quanta Services by 3.4% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after acquiring an additional 36 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of Quanta Services by 2.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company’s stock valued at $365,000 after acquiring an additional 37 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PWR. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Stifel Nicolaus boosted their price target on shares of Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 4th. Roth Capital restated a “buy” rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a report on Thursday, July 10th. Finally, Jefferies Financial Group upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $398.00 to $469.00 in a report on Wednesday, September 24th. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $404.27.

Quanta Services Stock Down 1.3%

Quanta Services stock opened at $422.45 on Wednesday. The firm has a market cap of $62.95 billion, a PE ratio of 65.39, a P/E/G ratio of 2.54 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The firm’s 50 day moving average price is $390.22 and its two-hundred day moving average price is $352.24. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $434.39.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the business earned $1.90 EPS. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is 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.