Nordea Investment Management AB Sells 187,404 Shares of Quanta Services, Inc. $PWR

Key Points

• Nordea Investment Management AB reduced its holdings in Quanta Services by 22.7%, selling 187,404 shares, and now owns 639,262 shares valued at approximately $241.7 million.
• Recent analyst reports have resulted in a mix of ratings for Quanta Services, with the consensus target price set at $410.45 and a majority of analysts rating it as a "Moderate Buy."
• Quanta Services announced a quarterly dividend of $0.10 per share, reflecting an annualized dividend yield of 0.1%, with a payout ratio currently at 6.19%.

Nordea Investment Management AB decreased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 639,262 shares of the construction company's stock after selling 187,404 shares during the period. Nordea Investment Management AB owned 0.43% of Quanta Services worth $241,692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Old Port Advisors raised its position in shares of Quanta Services by 0.7% during the second quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock valued at $1,491,000 after buying an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in shares of Quanta Services by 3.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after buying an additional 34 shares during the last quarter. Eastern Bank raised its position in shares of Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company's stock valued at $70,000 after buying an additional 35 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC raised its position in shares of Quanta Services by 3.4% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after buying an additional 36 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Roth Capital reiterated a "buy" rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Evercore ISI raised their target price on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. DA Davidson raised their target price on shares of Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $410.45.

Quanta Services Stock Down 0.7%

NYSE PWR opened at $434.65 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $396.43 and a two-hundred day moving average of $361.04. The firm has a market capitalization of $64.77 billion, a price-to-earnings ratio of 67.28, a PEG ratio of 2.59 and a beta of 1.04. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $446.60.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services's payout ratio is presently 6.19%.

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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