Quanta Services, Inc. $PWR Shares Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. significantly increased its stake in Quanta Services by 214.5% during Q2, now owning 13,092 shares valued at approximately $4.95 million.
• Quanta Services reported a 21.1% year-over-year increase in revenue for the last quarter, with earnings per share exceeding analysts' expectations at $2.48.
• The company announced a quarterly dividend of $0.10 per share, reflecting an annualized dividend yield of 0.1% and a low payout ratio of 6.19%.

ASR Vermogensbeheer N.V. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 214.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,092 shares of the construction company's stock after buying an additional 8,929 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Quanta Services were worth $4,949,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SOA Wealth Advisors LLC. boosted its stake in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services during the 1st quarter worth about $25,000. WPG Advisers LLC acquired a new stake in Quanta Services during the first quarter worth approximately $31,000. Webster Bank N. A. boosted its position in Quanta Services by 57.8% during the second quarter. Webster Bank N. A. now owns 131 shares of the construction company's stock worth $50,000 after acquiring an additional 48 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in Quanta Services during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE:PWR opened at $421.88 on Friday. The firm's fifty day simple moving average is $389.67 and its 200 day simple moving average is $349.54. The firm has a market capitalization of $62.86 billion, a price-to-earnings ratio of 65.31, a PEG ratio of 2.50 and a beta of 1.04. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $431.24. 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 issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The company 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 quarter in the previous 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 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be given 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 of this dividend is Wednesday, October 1st. Quanta Services's payout ratio is presently 6.19%.

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Citigroup raised their price target on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Mizuho initiated coverage on shares of Quanta Services in a research report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 target price on the stock. Finally, BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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