Quanta Services, Inc. $PWR Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its stake in Quanta Services, Inc. by 50.5% during Q1, owning approximately $304.3 million worth of shares.
• Analysts have rated Quanta Services with a mix of buy and hold ratings, with the average target price set at $397.18, following recent upgrades from various brokerages.
• Quanta Services reported Q2 earnings of $2.48 EPS, exceeding estimates, and a revenue of $6.77 billion, up 21.1% year-over-year.

Swedbank AB lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,197,062 shares of the construction company's stock after acquiring an additional 401,418 shares during the period. Swedbank AB owned about 0.81% of Quanta Services worth $304,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services during the 1st quarter valued at approximately $25,000. WPG Advisers LLC acquired a new stake in shares of Quanta Services during the 1st quarter valued at approximately $31,000. AlphaQuest LLC acquired a new stake in shares of Quanta Services during the 1st quarter valued at approximately $35,000. Zions Bancorporation National Association UT acquired a new stake in shares of Quanta Services during the 1st quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in Quanta Services in the first quarter worth $42,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PWR. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. UBS Group increased their target price on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Evercore ISI increased their target price on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, TD Cowen increased their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. 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, the stock has an average rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Trading Down 0.0%

NYSE:PWR opened at $390.01 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The stock has a market cap of $58.11 billion, a price-to-earnings ratio of 60.37, a PEG ratio of 2.32 and a beta of 1.01. The business has a fifty day moving average of $387.74 and a 200-day moving average of $333.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (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 company 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 posted $1.90 earnings per share. The company'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. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share 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. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio is presently 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.

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