Quanta Services, Inc. $PWR Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its stake in Quanta Services by 150.6%, owning approximately 0.28% of the company, valued at $156 million following a purchase of 251,845 additional shares.
• Quanta Services reported $2.48 EPS for the last quarter, exceeding analyst estimates and reflecting a 21.1% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 0.1%, with a dividend payout ratio of 6.19%.

Allspring Global Investments Holdings LLC grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 150.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 419,098 shares of the construction company's stock after purchasing an additional 251,845 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.28% of Quanta Services worth $156,026,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PWR. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Quanta Services in the 2nd quarter valued at about $650,960,000. Nuveen LLC bought a new position in Quanta Services in the first quarter worth about $404,288,000. Amundi lifted its holdings in Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after acquiring an additional 788,079 shares during the last quarter. Jennison Associates LLC lifted its holdings in Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after acquiring an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after acquiring an additional 407,878 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $417.15 on Monday. The firm's 50 day moving average is $391.79 and its two-hundred day moving average is $356.25. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $443.97. The firm has a market capitalization of $62.16 billion, a P/E ratio of 64.57, a PEG ratio of 2.47 and a beta of 1.04. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 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 company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the business earned $1.90 earnings per share. Quanta Services's 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 anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

PWR has been the topic of a number of recent research reports. TD Cowen raised 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. Roth Capital reissued a "buy" rating and issued a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Citigroup raised their target price on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Jefferies Financial Group raised shares of Quanta Services from a "hold" rating to a "buy" rating and raised their target price for the stock from $398.00 to $469.00 in a report on Wednesday, September 24th. Finally, Mizuho assumed coverage on shares of Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $408.45.

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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