New York State Teachers Retirement System Sells 458 Shares of Quanta Services, Inc. $PWR

New York State Teachers Retirement System reduced its position in Quanta Services, Inc. (NYSE:PWR) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 124,436 shares of the construction company’s stock after selling 458 shares during the period. New York State Teachers Retirement System owned 0.08% of Quanta Services worth $47,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Copia Wealth Management raised its stake in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares during the period. SOA Wealth Advisors LLC. raised its stake in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Ameriflex Group Inc. raised its stake in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after acquiring an additional 40 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Quanta Services in the 1st quarter valued at about $25,000. Finally, Hemington Wealth Management raised its stake in Quanta Services by 69.0% in the 2nd quarter. Hemington Wealth Management now owns 120 shares of the construction company’s stock valued at $45,000 after acquiring an additional 49 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PWR. JPMorgan Chase & Co. upped their price target on Quanta Services from $395.00 to $436.00 and gave the company a “neutral” rating in a research report on Thursday. Mizuho began coverage on Quanta Services in a research report on Thursday, September 4th. They set a “neutral” rating and a $360.00 price target on the stock. Sanford C. Bernstein cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a research report on Monday, July 28th. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $410.45.

Quanta Services Stock Up 0.1%

Shares of NYSE PWR opened at $437.38 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $446.60. 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 firm has a market capitalization of $65.17 billion, a price-to-earnings ratio of 67.71, a PEG ratio of 2.59 and a beta of 1.04. The business has a 50-day moving average of $395.46 and a 200-day moving average of $359.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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