Strs Ohio Raises Position in Quanta Services, Inc. $PWR

Strs Ohio boosted its position in Quanta Services, Inc. (NYSE:PWR) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,929 shares of the construction company’s stock after purchasing an additional 8,879 shares during the period. Strs Ohio owned about 0.05% of Quanta Services worth $28,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PWR. Kingstone Capital Partners Texas LLC purchased a new position in shares of Quanta Services during the 2nd quarter worth approximately $650,960,000. Nuveen LLC purchased a new stake in shares of Quanta Services during the 1st quarter worth approximately $404,288,000. Amundi boosted its stake in shares of Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after acquiring an additional 788,079 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after acquiring an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after acquiring an additional 407,878 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $453.20 on Friday. 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 company has a market capitalization of $67.53 billion, a price-to-earnings ratio of 70.15, a PEG ratio of 2.66 and a beta of 1.04. The company’s 50 day simple moving average is $406.70 and its 200 day simple moving average is $373.13. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $460.86.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PWR shares. Roth Capital reissued a “buy” rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. TD Cowen upped their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday, October 8th. Mizuho set a $415.00 price target on shares of Quanta Services in a research report on Tuesday. Finally, Truist Financial increased their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $414.09.

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.