Northern Trust Corp Purchases 56,081 Shares of Quanta Services, Inc. $PWR

Key Points

• Northern Trust Corp increased its stake in Quanta Services, Inc. by 3.8%, holding approximately 1.04% of the company, worth about $392.8 million as of its latest SEC filing.
• Several analysts have raised their price targets on Quanta Services, with Citigroup setting a new target of $492.00 while maintaining a "buy" rating, reflecting positive sentiment towards the company's growth.
• Quanta Services announced a quarterly dividend of $0.10 per share, representing an annualized yield of 0.1%, highlighting its ongoing commitment to returning value to shareholders.

Northern Trust Corp raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,545,514 shares of the construction company's stock after buying an additional 56,081 shares during the period. Northern Trust Corp owned about 1.04% of Quanta Services worth $392,839,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after buying an additional 407,878 shares during the period. Bank of America Corp DE boosted its holdings in shares of Quanta Services by 42.8% during the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares during the period. Nuveen LLC purchased a new stake in shares of Quanta Services during the first quarter worth about $404,288,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Quanta Services by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after purchasing an additional 82,981 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Quanta Services by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 1,052,982 shares of the construction company's stock worth $267,647,000 after purchasing an additional 28,472 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. B. Riley increased their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. TD Cowen increased their target price on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Stifel Nicolaus raised their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Stock Down 0.2%

Shares of PWR stock traded down $0.87 during trading hours on Monday, hitting $378.97. 160,143 shares of the company's stock traded hands, compared to its average volume of 1,399,478. The stock's fifty day simple moving average is $385.24 and its two-hundred day simple moving average is $325.36. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The stock has a market cap of $56.47 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 2.26 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

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

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.