Quanta Services, Inc. $PWR Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ sold 1,881 shares of Quanta Services, reducing its holdings by 3.9% to a total of 46,331 shares worth approximately $11.8 million.
• Several hedge funds increased their positions in Quanta Services, with notable increases by OMERS ADMINISTRATION Corp (14.2%) and B. Metzler seel. Sohn & Co. AG (106.6%), while institutional investors own 90.49% of the stock.
• Quanta Services reported a quarterly earnings beat, with $2.48 EPS against expectations of $2.44, and announced a quarterly dividend of $0.10 per share scheduled for October 10th.

Lansforsakringar Fondforvaltning AB publ trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,331 shares of the construction company's stock after selling 1,881 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Quanta Services were worth $11,776,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PWR. Brighton Jones LLC acquired a new position in Quanta Services in the fourth quarter worth about $298,000. Quarry LP acquired a new position in Quanta Services in the fourth quarter worth about $26,000. Lido Advisors LLC grew its stake in Quanta Services by 12.5% in the fourth quarter. Lido Advisors LLC now owns 5,108 shares of the construction company's stock worth $1,614,000 after purchasing an additional 566 shares in the last quarter. AQR Capital Management LLC grew its stake in Quanta Services by 14.5% in the fourth quarter. AQR Capital Management LLC now owns 39,911 shares of the construction company's stock worth $12,614,000 after purchasing an additional 5,042 shares in the last quarter. Finally, Comerica Bank grew its stake in Quanta Services by 4.0% in the fourth quarter. Comerica Bank now owns 37,832 shares of the construction company's stock worth $11,957,000 after purchasing an additional 1,451 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $2.51 during trading on Thursday, reaching $376.92. The company had a trading volume of 271,471 shares, compared to its average volume of 1,372,323. The firm's fifty day moving average is $387.65 and its 200 day moving average is $329.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The firm has a market capitalization of $56.16 billion, a PE ratio of 58.35, a price-to-earnings-growth ratio of 2.24 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 announced its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 earnings per share. 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 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced 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 of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of research reports. Roth Capital restated a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Mizuho initiated coverage on Quanta Services in a research note on Thursday. They issued a "neutral" rating and a $360.00 target price for the company. Truist Financial lifted their target price on Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Wall Street Zen downgraded Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target 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.