Quanta Services, Inc. $PWR Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its holdings in Quanta Services, Inc. by 14.2%, owning 11,834 shares valued at approximately $3.01 million.
• Quanta Services reported $2.48 EPS, exceeding estimates of $2.44, with a 21.1% revenue increase year-over-year to $6.77 billion.
• Analysts have set a consensus price target of $392.45 for Quanta Services, with several firms increasing their target prices, highlighting a generally positive outlook.

OMERS ADMINISTRATION Corp lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,834 shares of the construction company's stock after buying an additional 1,467 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Quanta Services were worth $3,008,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC lifted its stake in Quanta Services by 1.1% during the first 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 stake in 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 worth $277,000 after purchasing an additional 36 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Quanta Services by 2.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after purchasing an additional 37 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Quanta Services by 15.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock worth $72,000 after purchasing an additional 38 shares during the last quarter. Finally, Kerntke Otto McGlone Wealth Management Group lifted its stake in Quanta Services by 3.0% during the first quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock worth $345,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Roth Capital reiterated a "buy" rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. Finally, BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $2.63 during trading hours on Thursday, hitting $377.04. 248,884 shares of the company were exchanged, compared to its average volume of 1,372,083. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year 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 business has a 50-day moving average of $387.65 and a 200-day moving average of $329.39. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 58.37, a P/E/G ratio of 2.24 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The company'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. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.