Quanta Services, Inc. $PWR Shares Bought by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Quanta Services, Inc. by 56.9%, acquiring an additional 54,187 shares to reach a total of 149,420 shares worth approximately $37.98 million.
• Quanta Services reported a 21.1% increase in revenue year-over-year, generating $6.77 billion in the quarter and exceeding analysts' expectations, alongside an earnings per share (EPS) of $2.48.
• Analysts have mixed ratings on Quanta Services, with thirteen analysts rating it as a Buy and twelve assigning a Hold rating, while the current average target price stands at $392.45.

Canada Pension Plan Investment Board increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 56.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,420 shares of the construction company's stock after buying an additional 54,187 shares during the period. Canada Pension Plan Investment Board owned about 0.10% of Quanta Services worth $37,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after acquiring an additional 407,878 shares in the last quarter. Bank of America Corp DE grew its holdings in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after acquiring an additional 506,722 shares in the last quarter. Nuveen LLC acquired a new position in Quanta Services during the 1st quarter worth approximately $404,288,000. Northern Trust Corp grew its holdings in Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock worth $392,839,000 after acquiring an additional 56,081 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Quanta Services by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after acquiring an additional 82,981 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PWR shares. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Wall Street Zen cut shares of Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Citigroup upped their target price on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Stock Performance

NYSE:PWR traded up $1.37 during trading hours on Thursday, reaching $375.78. 942,107 shares of the company's stock were exchanged, compared to its average volume of 1,376,469. The firm has a market capitalization of $55.99 billion, a price-to-earnings ratio of 58.17, a P/E/G ratio of 2.24 and a beta of 1.01. The company has a 50-day moving average of $387.65 and a 200 day moving average of $329.39. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94.

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

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio is currently 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.