Teacher Retirement System of Texas Has $8.51 Million Position in Quanta Services, Inc. $PWR

Teacher Retirement System of Texas raised its stake in Quanta Services, Inc. (NYSE:PWR) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,501 shares of the construction company’s stock after purchasing an additional 924 shares during the period. Teacher Retirement System of Texas’ holdings in Quanta Services were worth $8,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services in the first quarter valued at $25,000. Copia Wealth Management grew its stake in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares in the last quarter. Solstein Capital LLC grew its stake in shares of Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Quanta Services in the first quarter valued at about $31,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and upped their price target for the company from $398.00 to $469.00 in a research note on Wednesday, September 24th. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and upped their price target for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. DA Davidson upped their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, TD Cowen upped their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $414.09.

Quanta Services Trading Up 2.2%

PWR opened at $449.28 on Thursday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $459.36. The company has a 50-day simple moving average of $405.20 and a 200 day simple moving average of $372.57. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $66.95 billion, a price-to-earnings ratio of 69.55, a P/E/G ratio of 2.60 and a beta of 1.04.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 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 analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 earnings per share. Analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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 dividend payout ratio is 6.19%.

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.