Czech National Bank Raises Stock Position in Quanta Services, Inc. $PWR

Key Points

• Czech National Bank increased its stake in Quanta Services, Inc. by 6.8%, owning 36,225 shares worth approximately $13.7 million at the end of Q2.
• The company reported $2.48 earnings per share for the latest quarter, exceeding analyst expectations and marking a 21.1% increase in revenue year-over-year.
• A quarterly dividend of $0.10 will be paid on October 10th, representing an annualized dividend of $0.40 and a yield of 0.1%.

Czech National Bank boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,225 shares of the construction company's stock after purchasing an additional 2,321 shares during the period. Czech National Bank's holdings in Quanta Services were worth $13,696,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PWR. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services during the first quarter valued at $25,000. WPG Advisers LLC purchased a new stake in Quanta Services during the 1st quarter valued at about $31,000. Webster Bank N. A. grew its stake in Quanta Services by 57.8% during the 2nd quarter. Webster Bank N. A. now owns 131 shares of the construction company's stock valued at $50,000 after purchasing an additional 48 shares during the last quarter. AlphaQuest LLC purchased a new stake in Quanta Services during the 1st quarter valued at about $35,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Quanta Services in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Quanta Services stock traded up $15.22 during midday trading on Thursday, reaching $391.23. The company had a trading volume of 1,173,072 shares, compared to its average volume of 802,014. The company has a market capitalization of $58.30 billion, a P/E ratio of 60.56, a P/E/G ratio of 2.23 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The firm's fifty day simple moving average is $387.78 and its 200-day simple moving average is $337.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

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 for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Evercore ISI upped their price target 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. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a research report on Wednesday, July 2nd. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Finally, Stifel Nicolaus upped their target price on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Thirteen 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, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.18.

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.