Quanta Services, Inc. $PWR Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 377,907 shares of the construction company’s stock after purchasing an additional 5,594 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Quanta Services were worth $142,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services in the first quarter worth about $25,000. Copia Wealth Management lifted its holdings in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares during the period. SOA Wealth Advisors LLC. lifted its holdings in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the period. WPG Advisers LLC acquired a new stake in Quanta Services in the 1st quarter valued at about $31,000. Finally, Ameriflex Group Inc. lifted its holdings in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 3.2%

Shares of Quanta Services stock opened at $441.09 on Friday. The stock has a market capitalization of $65.73 billion, a P/E ratio of 68.28, a PEG ratio of 2.53 and a beta of 1.04. 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 50 day moving average price of $401.36 and a two-hundred day moving average price of $367.34. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $447.17.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (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 return on equity of 18.41% and a net margin of 3.73%.The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is currently 6.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Northland Capmk downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Mizuho assumed coverage on Quanta Services in a report on Thursday, September 4th. They issued a “neutral” rating and a $360.00 target price on the stock. Sanford C. Bernstein downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. Citigroup upped their target price on Quanta Services from $490.00 to $517.00 and gave the company a “buy” rating in a report on Monday. Finally, Roth Capital restated a “buy” rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $411.59.

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.