Arizona State Retirement System Buys 1,110 Shares of Quanta Services, Inc. $PWR

Arizona State Retirement System raised its stake in Quanta Services, Inc. (NYSE:PWR) by 2.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 41,638 shares of the construction company’s stock after acquiring an additional 1,110 shares during the period. Arizona State Retirement System’s holdings in Quanta Services were worth $29,981,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in Quanta Services by 73,333.1% in the second quarter. California State Teachers Retirement System now owns 163,127,222 shares of the construction company’s stock valued at $117,458,125,000 after acquiring an additional 162,905,078 shares during the last quarter. State Street Corp raised its holdings in Quanta Services by 2.1% during the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock worth $2,619,626,000 after purchasing an additional 126,014 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Quanta Services by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock worth $1,718,371,000 after purchasing an additional 110,360 shares during the period. Bank of America Corp DE boosted its stake in shares of Quanta Services by 5.4% in the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock valued at $1,891,215,000 after purchasing an additional 175,184 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Quanta Services by 35.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after buying an additional 758,862 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 2.3%

Quanta Services stock traded up $14.61 during mid-day trading on Tuesday, reaching $639.02. The stock had a trading volume of 831,705 shares, compared to its average volume of 1,162,385. The firm has a market capitalization of $96.07 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 2.05 and a beta of 1.20. Quanta Services, Inc. has a fifty-two week low of $370.27 and a fifty-two week high of $788.75. The stock’s 50-day simple moving average is $650.04 and its 200-day simple moving average is $644.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.10.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.93. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.61 billion. During the same period last year, the business earned $2.48 EPS. Quanta Services’s quarterly revenue was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 15.35 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Thursday, October 1st. Quanta Services’s dividend payout ratio is currently 5.04%.

Quanta Services announced that its Board of Directors has approved a share repurchase program on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Guggenheim upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 price target for the company in a report on Friday, July 31st. Truist Financial restated a “buy” rating and set a $976.00 target price (up from $940.00) on shares of Quanta Services in a research report on Monday, August 3rd. CICC Research began coverage on Quanta Services in a report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 target price for the company. Robert W. Baird set a $728.00 price target on Quanta Services in a research note on Friday, July 31st. Finally, BTIG Research downgraded shares of Quanta Services to a “hold” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $769.25.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.