Quanta Services, Inc. $PWR Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,907 shares of the construction company’s stock after buying an additional 5,594 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Quanta Services worth $142,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the first quarter worth $25,000. Copia Wealth Management lifted its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing 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 second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Quanta Services during the first quarter worth $31,000. Finally, Ameriflex Group Inc. lifted its position in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on PWR. Sanford C. Bernstein cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a research report on Monday, July 28th. Northland Securities lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target for the company. in a research note on Wednesday, July 2nd. Truist Financial lifted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Mizuho assumed coverage on shares of Quanta Services in a research note on Thursday, September 4th. They issued a “neutral” rating and a $360.00 price target for the company. Finally, Citigroup lifted their price target on shares of Quanta Services from $490.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $411.59.

Quanta Services Stock Up 3.2%

PWR stock opened at $441.09 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $447.17. The firm has a fifty day moving average price of $401.36 and a two-hundred day moving average price of $367.34. The firm has a market cap of $65.73 billion, a price-to-earnings ratio of 68.28, a PEG ratio of 2.53 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter 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. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was 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%.

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.