AQR Capital Management LLC Purchases 1,622 Shares of Quanta Services, Inc. $PWR

Key Points

• AQR Capital Management LLC increased its stake in Quanta Services, Inc. by 4.1% in Q1, acquiring an additional 1,622 shares, bringing its total holdings to 41,533 shares worth approximately $10.32 million.
• Quanta Services reported $6.77 billion in revenue for the last quarter, exceeding analysts' expectations, with an earnings per share of $2.48, which also beat consensus estimates.
• The company is set to distribute a quarterly dividend of $0.10 per share on October 10th, which represents an annualized dividend yield of 0.1%.

AQR Capital Management LLC increased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,533 shares of the construction company's stock after acquiring an additional 1,622 shares during the quarter. AQR Capital Management LLC's holdings in Quanta Services were worth $10,320,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PWR. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services in the first quarter worth $25,000. WPG Advisers LLC acquired a new stake in shares of Quanta Services in the first quarter worth $31,000. AlphaQuest LLC acquired a new stake in shares of Quanta Services in the first quarter worth $35,000. Zions Bancorporation National Association UT acquired a new stake in shares of Quanta Services in the first quarter worth $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter worth $42,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 1.8%

Shares of NYSE:PWR traded down $7.14 on Friday, reaching $382.50. The company had a trading volume of 833,428 shares, compared to its average volume of 837,370. 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 $387.66 and a 200 day moving average price of $334.82. The stock has a market capitalization of $57.00 billion, a P/E ratio of 59.21, a P/E/G ratio of 2.31 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping 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 period in the previous year, the company posted $1.90 earnings per share. 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 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 paid a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's payout ratio is presently 6.19%.

Analysts Set New Price Targets

Several analysts have recently commented on PWR shares. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Northland Securities cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective for the company. in a research report on Wednesday, July 2nd. Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.18.

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.