Public Employees Retirement System of Ohio Sells 1,045 Shares of Quanta Services, Inc. $PWR

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Quanta Services, Inc. by 1.6%, selling 1,045 shares and holding 65,021 shares valued at approximately $24.58 million at the end of the quarter.
• Quanta Services reported a 21.1% increase in revenue year-over-year for the latest quarter, with earnings per share (EPS) of $2.48, beating estimates by $0.04.
• The company has announced a quarterly dividend of $0.10 per share, payable on October 10th, with an annualized yield of 0.1%.

Public Employees Retirement System of Ohio cut its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,021 shares of the construction company's stock after selling 1,045 shares during the period. Public Employees Retirement System of Ohio's holdings in Quanta Services were worth $24,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PWR. Norden Group LLC grew its position in Quanta Services by 3.2% in the second quarter. Norden Group LLC now owns 2,619 shares of the construction company's stock valued at $990,000 after acquiring an additional 80 shares during the period. Accurate Wealth Management LLC bought a new stake in Quanta Services in the second quarter valued at $208,000. Fifth Third Bancorp grew its position in Quanta Services by 9.5% in the second quarter. Fifth Third Bancorp now owns 6,011 shares of the construction company's stock valued at $2,273,000 after acquiring an additional 520 shares during the period. BNC Wealth Management LLC grew its position in Quanta Services by 19.3% in the second quarter. BNC Wealth Management LLC now owns 16,669 shares of the construction company's stock valued at $6,302,000 after acquiring an additional 2,691 shares during the period. Finally, Financial Partners Group Inc grew its position in Quanta Services by 1.8% in the second quarter. Financial Partners Group Inc now owns 2,269 shares of the construction company's stock valued at $858,000 after acquiring an additional 41 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 1.0%

Shares of PWR opened at $398.85 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. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The firm has a market capitalization of $59.43 billion, a PE ratio of 61.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.01. The stock's fifty day simple moving average is $388.44 and its 200-day simple moving average is $342.96.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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 return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The firm's revenue for the quarter 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, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. 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 is presently 6.19%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PWR. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research report on Monday, July 28th. Stifel Nicolaus upped their price target on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their target price on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $404.27.

About Quanta Services

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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