IFM Investors Pty Ltd Purchases 1,024 Shares of Quanta Services, Inc. $PWR

Key Points

• IFM Investors Pty Ltd increased its stake in Quanta Services, Inc. by 3.8% during the first quarter, owning 28,033 shares valued at $7,125,000.
• Quanta Services reported earnings of $2.48 EPS for the last quarter, beating estimates, with a 21.1% year-over-year increase in revenue.
• The company has announced a quarterly dividend of $0.10, representing a 0.1% dividend yield, with the payout scheduled for October 10th.

IFM Investors Pty Ltd raised its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,033 shares of the construction company's stock after acquiring an additional 1,024 shares during the period. IFM Investors Pty Ltd's holdings in Quanta Services were worth $7,125,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on PWR. Piper Sandler reissued an "overweight" rating and set a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. UBS Group increased their target price on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. DA Davidson lifted their price target on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, TD Cowen boosted their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Stock Down 1.8%

PWR stock traded down $7.14 during trading on Friday, reaching $382.50. 833,428 shares of the stock were exchanged, compared to its average volume of 837,370. The firm's 50 day moving average is $387.66 and its 200 day moving average is $334.82. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. 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 firm has a market cap of $57.00 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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 business had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend 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.