Maryland State Retirement & Pension System Boosts Holdings in Quanta Services, Inc. $PWR

Maryland State Retirement & Pension System grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,158 shares of the construction company’s stock after acquiring an additional 368 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Quanta Services were worth $2,706,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SCP Investment LP purchased a new position in shares of Quanta Services in the first quarter worth $966,000. Brighton Jones LLC purchased a new position in shares of Quanta Services in the fourth quarter worth $298,000. Swedbank AB increased its stake in shares of Quanta Services by 50.5% in the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after buying an additional 401,418 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Quanta Services by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock worth $17,480,000 after buying an additional 2,479 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock worth $404,000 after buying an additional 588 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $417.15 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $443.97. The stock has a market cap of $62.16 billion, a PE ratio of 64.57, a price-to-earnings-growth ratio of 2.55 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 company’s fifty day moving average price is $391.79 and its 200-day moving average price is $354.88.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the business posted $1.90 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is currently 6.19%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson lifted their target price on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a report on Friday, July 25th. Roth Capital reiterated a “buy” rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Finally, Mizuho initiated coverage on shares of Quanta Services in a report on Thursday, September 4th. They issued a “neutral” rating and a $360.00 price target on the stock. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $408.45.

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.