Northern Trust Corp Grows Stock Position in Quanta Services, Inc. $PWR

Northern Trust Corp increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,545,514 shares of the construction company’s stock after buying an additional 56,081 shares during the period. Northern Trust Corp owned about 1.04% of Quanta Services worth $392,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new position in Quanta Services in the 1st quarter valued at about $966,000. Brighton Jones LLC purchased a new position in Quanta Services in the 4th quarter valued at about $298,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock valued at $17,480,000 after purchasing an additional 2,479 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock valued at $404,000 after purchasing an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC purchased a new position in Quanta Services in the 1st quarter valued at about $213,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on PWR shares. Stifel Nicolaus upped their target price 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. Argus set a $375.00 price objective on shares of Quanta Services in a research note on Monday, May 5th. Piper Sandler reaffirmed an “overweight” rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Citigroup upped their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Thirteen 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, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $392.45.

Quanta Services Stock Down 1.3%

PWR opened at $378.42 on Wednesday. The firm has a 50 day moving average price of $384.01 and a 200 day moving average price of $323.64. The company has a market cap of $56.39 billion, a PE ratio of 58.58, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 EPS. 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 year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. 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.