Mirae Asset Global Investments Co. Ltd. Sells 21,654 Shares of Quanta Services, Inc. $PWR

Key Points

• Mirae Asset Global Investments Co. Ltd. decreased its holdings in Quanta Services, Inc. by 42.6%, selling 21,654 shares, leaving them with 29,171 shares valued at approximately $11 million.
• Quanta Services reported $2.48 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue of $6.77 billion, up 21.1% from the previous year.
• The firm declared a quarterly dividend of $0.10 per share, scheduled for payment on October 10th, representing an annualized yield of 0.1%.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 42.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 29,171 shares of the construction company's stock after selling 21,654 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Quanta Services were worth $11,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PWR. Old Port Advisors increased its position in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock valued at $1,491,000 after acquiring an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after purchasing an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock worth $792,000 after purchasing an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its holdings in Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after buying an additional 36 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Quanta Services by 2.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after buying an additional 37 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.2%

Shares of NYSE PWR opened at $421.88 on Monday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $431.24. 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 stock has a market cap of $62.86 billion, a P/E ratio of 65.31, a P/E/G ratio of 2.50 and a beta of 1.04. The firm has a 50 day moving average price of $389.67 and a 200 day moving average price of $350.63.

Quanta Services (NYSE:PWR - Get Free Report) last announced 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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same period last year, the firm posted $1.90 earnings per share. The business's quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Wall Street Zen lowered shares of Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Evercore ISI boosted their price target on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Finally, Roth Capital reaffirmed a "buy" rating and set a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $404.27.

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.

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