Trust Co. of Toledo NA OH Buys New Position in Quanta Services, Inc. $PWR

Trust Co. of Toledo NA OH bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the second quarter, HoldingsChannel.com reports. The fund bought 560 shares of the construction company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Old Port Advisors raised its position in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after buying an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in Quanta Services by 3.5% in the 1st 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 Quanta Services by 1.1% in the 1st 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. Eastern Bank raised its position in Quanta Services by 23.5% in the 2nd 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. Finally, Legacy Capital Wealth Partners LLC raised its position in Quanta Services by 3.4% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PWR shares. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Jefferies Financial Group upgraded Quanta Services from a “hold” rating to a “buy” rating and raised their price target for the company from $398.00 to $469.00 in a research note on Wednesday, September 24th. Stifel Nicolaus raised their price target on Quanta Services from $432.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets downgraded Quanta Services from an “outperform” rating to a “market perform” rating and raised their price target for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $408.45.

Quanta Services Stock Performance

PWR opened at $417.15 on Friday. The business has a fifty day simple moving average of $391.79 and a 200 day simple moving average of $355.54. The company has a market capitalization of $62.16 billion, a PE ratio of 64.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $443.97. 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 (NYSE:PWR) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) 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 the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.19%.

Quanta Services Company Profile

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.