New York Life Investment Management LLC Increases Stake in Quanta Services, Inc. $PWR

New York Life Investment Management LLC grew its stake in Quanta Services, Inc. (NYSE:PWR) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,197 shares of the construction company’s stock after buying an additional 359 shares during the quarter. New York Life Investment Management LLC’s holdings in Quanta Services were worth $8,392,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new stake in Quanta Services during the first quarter worth approximately $966,000. Brighton Jones LLC purchased a new stake in Quanta Services during the fourth quarter worth approximately $298,000. Swedbank AB lifted its stake in Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after purchasing an additional 401,418 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Quanta Services during the second quarter worth approximately $271,000. Finally, Voya Investment Management LLC lifted its stake in Quanta Services by 8.6% during the first quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company’s stock worth $152,017,000 after purchasing an additional 47,469 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PWR shares. DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Mizuho set a $415.00 target price on Quanta Services in a research note on Tuesday. Truist Financial lifted their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a research report on Monday, July 28th. Finally, Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $398.00 to $469.00 in a research report on Wednesday, September 24th. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.09.

Quanta Services Trading Down 0.7%

NYSE:PWR opened at $438.74 on Wednesday. The firm has a market cap of $65.38 billion, a P/E ratio of 67.92, a PEG ratio of 2.62 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 stock’s 50 day simple moving average is $403.72 and its 200-day simple moving average is $371.31. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $447.17.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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