First Citizens Bank & Trust Co. Purchases New Stake in Quanta Services, Inc. $PWR

First Citizens Bank & Trust Co. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 2nd quarter, Holdings Channel reports. The fund purchased 607 shares of the construction company’s stock, valued at approximately $229,000.

Several other large investors have also recently bought and sold shares of PWR. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the first quarter valued at $25,000. Copia Wealth Management raised its position in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares during the period. SOA Wealth Advisors LLC. raised its position in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after buying an additional 43 shares during the period. WPG Advisers LLC acquired a new position in Quanta Services during the first quarter valued at $31,000. Finally, Ameriflex Group Inc. increased its position in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on PWR shares. Seaport Res Ptn raised Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Sanford C. Bernstein lowered 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. Mizuho started coverage on Quanta Services in a research report on Thursday, September 4th. They issued a “neutral” rating and a $360.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $411.59.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $441.09 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The firm has a market cap of $65.73 billion, a price-to-earnings ratio of 68.28, a P/E/G ratio of 2.61 and a beta of 1.04. The business’s 50-day simple moving average is $401.36 and its 200-day simple moving average is $368.88. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $447.17.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 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 firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s dividend 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.