Quanta Services, Inc. $PWR Shares Bought by US Bancorp DE

Key Points

• US Bancorp DE increased its holdings in Quanta Services, Inc. by 10.2%, owning 28,326 shares valued at approximately $10.71 million as of the latest SEC filing.
• Quanta Services reported a 21.1% year-over-year revenue growth, totaling $6.77 billion for the quarter, and surpassed analysts' earnings estimates by 4 cents.
• The company announced a quarterly dividend of $0.10 per share, reflecting a yield of 0.1%, with a payout ratio of 6.19%.

US Bancorp DE raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,326 shares of the construction company's stock after buying an additional 2,620 shares during the period. US Bancorp DE's holdings in Quanta Services were worth $10,710,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Old Port Advisors boosted its holdings in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock worth $1,491,000 after buying an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock worth $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Quanta Services by 1.1% during the 1st 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 boosted its holdings in shares of Quanta Services by 3.4% during the 1st 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. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Quanta Services by 2.6% during the 1st 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. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on PWR. DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Evercore ISI boosted their target price on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group upgraded Quanta Services from a "hold" rating to a "buy" rating and boosted their target price for the stock from $398.00 to $469.00 in a report on Wednesday, September 24th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $408.45.

Quanta Services Trading Down 3.0%

PWR opened at $417.15 on Friday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $443.97. The stock has a market capitalization of $62.16 billion, a PE ratio of 64.57, a P/E/G ratio of 2.47 and a beta of 1.04. The business's 50 day moving average price is $391.79 and its 200 day moving average price is $355.54. 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 data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's 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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