Ameriprise Financial Inc. Has $107.53 Million Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Ameriprise Financial Inc. reduced its stake in Quanta Services by 1.1%, selling 4,669 shares and maintaining ownership of approximately 422,838 shares valued at over $107 million.
• Quanta Services reported a strong quarterly performance with an EPS of $2.48, surpassing analysts' expectations, and a revenue of $6.77 billion, reflecting a 21.1% increase year-over-year.
• Multiple analysts have upgraded their price targets for Quanta Services, with a consensus price target now at $392.45, reflecting optimistic sentiments about the company’s growth potential.

Ameriprise Financial Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 422,838 shares of the construction company's stock after selling 4,669 shares during the quarter. Ameriprise Financial Inc. owned 0.29% of Quanta Services worth $107,527,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the fourth quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in Quanta Services during the 1st quarter worth approximately $25,000. Quarry LP acquired a new stake in Quanta Services during the 4th quarter valued at $26,000. Zions Bancorporation National Association UT bought a new position in Quanta Services in the 1st quarter valued at $40,000. Finally, OLD Second National Bank of Aurora acquired a new position in Quanta Services in the first quarter worth $42,000. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PWR shares. B. Riley lifted their price target on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. UBS Group boosted their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $392.45.

Quanta Services Stock Down 2.2%

PWR stock traded down $8.68 during trading hours on Friday, reaching $377.28. 475,973 shares of the stock were exchanged, compared to its average volume of 1,385,079. The company has a market cap of $56.22 billion, a price-to-earnings ratio of 58.40, a PEG ratio of 2.27 and a beta of 1.10. The firm's 50-day moving average is $387.02 and its 200-day moving average is $327.13. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. Quanta Services's revenue for the quarter was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research 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 will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

Quanta Services Company 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.