Sumitomo Life Insurance Co. Purchases 1,087 Shares of Quanta Services, Inc. $PWR

Sumitomo Life Insurance Co. grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 12.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,552 shares of the construction company’s stock after buying an additional 1,087 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Quanta Services were worth $3,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Copia Wealth Management lifted its position in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after buying an additional 43 shares in the last quarter. Solstein Capital LLC lifted its position in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. Ameriflex Group Inc. lifted its position in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services during the 1st quarter worth approximately $25,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.8%

Quanta Services stock opened at $450.16 on Friday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $469.43. The firm has a market capitalization of $67.08 billion, a price-to-earnings ratio of 69.68, a P/E/G ratio of 2.66 and a beta of 1.04. 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 50 day simple moving average of $408.11 and a 200 day simple moving average of $375.05.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the business earned $2.72 EPS. Quanta Services’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s payout ratio is currently 5.93%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PWR. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a research note on Thursday, July 10th. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $352.00 to $400.00 in a research note on Thursday, July 17th. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target for the company. in a research note on Monday, July 28th. Finally, Citigroup raised their price target on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.55.

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.