Lansforsakringar Fondforvaltning AB publ Sells 1,881 Shares of Quanta Services, Inc. $PWR

Lansforsakringar Fondforvaltning AB publ lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,331 shares of the construction company’s stock after selling 1,881 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Quanta Services were worth $11,776,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in Quanta Services in the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in Quanta Services in the 1st quarter worth approximately $25,000. Quarry LP bought a new stake in Quanta Services in the 4th quarter worth approximately $26,000. AlphaQuest LLC bought a new stake in Quanta Services in the 1st quarter worth approximately $35,000. Finally, Zions Bancorporation National Association UT bought a new stake in Quanta Services in the 1st quarter worth approximately $40,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $378.24 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. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The stock has a market capitalization of $56.36 billion, a PE ratio of 58.55, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The stock’s 50 day moving average price is $387.37 and its 200-day moving average price is $327.65.

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, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The business’s revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Argus set a $375.00 target price on Quanta Services in a research report on Monday, May 5th. Roth Capital restated a “buy” rating and issued a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. B. Riley boosted their price objective on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Evercore ISI boosted their price objective on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $392.45.

Quanta Services 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.