First Interstate Bank Buys Shares of 650 Quanta Services, Inc. $PWR

Key Points

• First Interstate Bank has acquired a new stake in Quanta Services by purchasing 650 shares valued at approximately $246,000 in the second quarter.
• Quanta Services reported a 21.1% year-over-year revenue increase with earnings of $2.48 per share for last quarter, surpassing analyst expectations.
• The company recently announced a quarterly dividend of $0.10 per share, reflecting a low payout ratio of 6.19% and a 0.1% dividend yield.

First Interstate Bank bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 650 shares of the construction company's stock, valued at approximately $246,000.

A number of other hedge funds have also made changes to their positions in PWR. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $25,000. Copia Wealth Management increased its holdings in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company's stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. increased its holdings in shares of Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock valued at $32,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Down 0.7%

Shares of NYSE PWR opened at $434.65 on Monday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $446.60. 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 stock has a fifty day simple moving average of $396.43 and a 200-day simple moving average of $362.48. The stock has a market capitalization of $64.77 billion, a PE ratio of 67.28, a PEG ratio of 2.57 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company's 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 forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were paid a $0.10 dividend. The ex-dividend date of this dividend was 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%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Quanta Services in a report on Wednesday, October 8th. Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Mizuho initiated coverage on Quanta Services in a research note on Thursday, September 4th. They set a "neutral" rating and a $360.00 target price for the company. Finally, Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $410.45.

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.

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